What will happen at the meeting of creditors?
At the meeting of creditors, the trustee will ask a series of questions almost identical to the checklist used in our office during the first consultation with the attorney. The trustee is looking for non-exempt assets or to identify other legal issues in your case. In virtually every case, any of those issues will have been previously discussed with you by one of the attorneys. Creditors are permitted to attend the meeting and ask questions if they wish. Few, if any, of the creditors actually attend.
At the meeting of creditors, the Chapter 13 Trustee will ask a series of questions almost identical to those on the schedules and statement of financial affairs. The Chapter 13 trustee is generally attempting to locate non-exempt assets and trying to determine the feasibility of your Chapter 13 Plan. Also they are checking as to whether the income and expenses you have attested to under penalty of perjury are correct. The Chapter 13 Trustee is further determining whether you qualify for Chapter 13 Bankruptcy and have complied with the requirements under the Bankruptcy Code. Most importantly they are looking to your disposable income to be able to fund the plan. In virtually every case, these issues will have long since been addressed with you, your attorney, and the Chapter 13 Trustee’s office prior to the meeting. Creditors are permitted to attend these meetings and ask questions if they wish, but in most Chapter 13 bankruptcy cases the creditors rarely if ever appear.
At the meeting of creditors, the trustee will ask a series of questions almost identical to those on the schedules and statement of financial affairs. The trustee is generally attempting to find non-exempt assets or determine whether the income and expenses you have attested to under penalty of perjury are correct. Also that you qualify for Chapter 7 Bankruptcy and have complied with the requirements under the Bankruptcy Code. In virtually every case, these issues will have long since been addressed with you by your attorney. Creditors are permitted to attend these meetings and ask questions if they wish, but in most Chapter 7 consumer bankruptcy cases the creditors rarely if ever appear.
