Bankruptcy Meeting of Creditors
Keegan and Co. Attorneys will be there for you to facilitate the Bankruptcy Meeting of Creditors.
Do I have to go to court for Bankruptcy?
One of the most commonly asked questions we receive in our office is “will I have to go to court and appear before a judge”? There will be a telephone conference at your attorney’s office before a trustee at a meeting called the “meeting of creditors”. The primary purpose of this phone call is to give the bankruptcy trustee an opportunity to review you petition and have you confirm under oath the information provided in your schedules.
Knowing what to expect at the hearing can make the process go smoother and help to ease any anxiety.
Who will be at the 341 Meeting of Creditors, and do I have to go to court?
Two of the most commonly asked questions we receive from clients is: “will I have to go to court and appear before a judge”? And “who will be at the meeting of creditors and what can they ask me”?
Firstly, you do not go to court and do not appear before a bankruptcy judge. Once your case is filed and your meeting is scheduled, you will meet a bankruptcy trustee over Zoom. This Zoom meeting is held at the offices of Keegan & Co. Attorneys.
The bankruptcy trustee is an attorney who also usually practices bankruptcy law as well. This meeting is informal and not a court hearing. You are under oath, and you must answer truthfully.
It is very rare for any creditor to join in the meeting to ask questions. Typically, the only creditor who occasionally appears is an attorney for the bank holding your vehicle loan. They will want to know who your insurance company, what shape your car is in, and whether you intend to keep or surrender the vehicle to the bank.
Usually, the only people in the Zoom meeting are the trustee, your attorney, and you.
The primary purpose of this Zoom meeting is to give the bankruptcy trustee an opportunity to review your petition and have you confirm under oath that the information provided in your case is correct.
Knowing what to expect at the meeting can make the process go smoother and help ease any anxiety. We will let you know what the questions will be ahead of time and assure that you are properly prepared and this meeting is anxiety free as possible.
Some people are worried that their creditors will join in the meeting to harass them. In the very rare event that a creditor appears, our attorneys will protect you from any harassment.
What is a Bankruptcy Trustee and what questions can be asked?
A bankruptcy trustee is a court appointed individual responsible for administering your case. In our jurisdiction every bankruptcy trustee is an attorney who has represented debtors, just like yourself, in bankruptcy proceedings currently, or at some point in their career.
Having been on the “other side” of cases with people just like yourself, they fully understand how anxiety causing this meeting is for some people. We can attest that every bankruptcy trustee in our jurisdiction is professional, courteous, and will treat you with dignity and fairness. They have a job to do, namely, ensuring that your case is properly prepared and that you disclosed all your assets and debts.
In our typical non-business cases, the meeting should only last a few minutes. If your case is a business case, it may take a little longer, but in any event these meetings are generally very brief. They are not contentious or disruptive in any manner. Everyone is expected to behave politely and professionally.
The trustee will confirm your petition is truthful and accurate. They can ask you questions about your income, debts, and assets and anything in your petition.
Bankruptcy Meeting of Creditors – The Setting
Since COVID, the meeting place has changed to our EASTGATE office in the form of a phone conference. You will answer questions from the trustee over the phone while in your attorney’s office. As of 2022, these meetings are still taking place by phone conference and it appears this will continue.
What happens after my bankruptcy meeting?
Whether your case is a Chapter 13 or Chapter 7 you will need to Complete your second credit counseling session. You will not get your bankruptcy discharge unless you complete this short course.
If your case is a Chapter 7, you will just be waiting for your discharge to be issued by the court which takes 90 to 120 days typically. If you are in a Chapter 13 case you will need to make your monthly payments as set forth in your plan we prepared for you.
You will likely have life circumstances that change during your Chapter 13 case. We represent you during the entire period you are in your plan. We need to know whether you changed jobs, are laid off, have a broken furnace, need to trade in your car for a better model, etc. When these things happen, we can adjust your plan to account for differing income and necessary or emergency expenditures
Your chapter 13 plan is flexible. We can suspend payments, allow for the purchase of a different vehicle, and account for a decrease or increase in income to name a few. Contact us at any time with your questions, and about your life changes so that we can petition the court to change your plan to meet your changed circumstances.
Once your Chapter 13 payment plan is completed, you will receive a discharge from the court stating all the debts listed in your plan have discharged. This discharge order from the court also prohibits any collection activity from any of your creditors discharged in your plan.
In both instances, your discharge is your first step towards better credit.
Expecting a bankruptcy meeting of creditors? Sign up for a Free consultation.
Call Keegan & Co. Attorneys, LLC at 513-752-3900 to schedule your free consultation at one of our convenient offices: Eastgate or Middletown. You will have plenty of time to discuss your unique circumstances with an experienced and knowledgeable attorney. We offer flexible meeting times and flat fees. Both our attorneys and staff work to make the bankruptcy process as seamless and easy for you as possible.
