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Just The Facts: Getting Ready For Your Creditor's Meeting

When you filed for bankruptcy, you may have known that you would have to appear before a judge, sooner or later. The actual procedure in most federal districts, however, is a lot less formal and intimidating than a court appearance. Your creditor's meeting is probably going to be the only time you have to appear in public in regard to your chapter 7 bankruptcy, so be ready for this occasion by reading the quick facts listed below.

1. Since it's called the creditor's meeting, you might be interested to know that, ironically, few creditors bother to appear at it. If any are expected, you bankruptcy attorney will know about it and you can be prepared ahead of time. In some cases, a creditor may appear to have you sign a debt reaffirmation. This allows you to continue making payments on a piece of property, like a car, in exchange for keeping it.

2. Instead of a judge presiding, it is more likely to be the bankruptcy trustee. This meeting is not for you alone, but you may instead be in a courtroom (or other large room) with a lot of other people doing the same thing you are.

3. Another potential issue that involves creditors is your most recent use of credit. There are restrictions about the use of your credit cards to charge things and to get cash, and if a creditor has reason to believe that you have violated those rules, you may need to be prepared to defend the use of the card.

4. Be prepared for your appearance by knowing exactly where you are going (usually a federal building of some type), where to park and what to bring with you. You will need to bring a copy of your bankruptcy paperwork, your government-issued photo identification and your Social Security card.

5. Your attorney will be there to support you, but may be busy with other clients until it's your turn. You can expect your case to come up alphabetically by your last name, unless a certain attorney has a conflict and needs to be put at the head of the line.

6. You likely have been watching other filers, so you will know what to expect when your own name is called. You will stand and be sworn in, after which you will answer a few questions. You can expect to be asked questions like:

• Did you read your bankruptcy petition, and if so do you certify that it is accurate to the best of your knowledge?
• Have you filed and paid your federal taxes for the most recent tax year?
• Have you ever filed bankruptcy before, and if so, when?

This entire experience will take you only seconds, once your time before the trustee comes. Speak to your bankruptcy attorney for more info about the creditor's meeting.