What Happens at the Meeting of the Creditors?

After your attorney files your case, the creditors then have the opportunity to contest your case. Within about 6 weeks, your attorney will require you to provide your most recent income tax. They attorney will at that time meet with all of the creditors and give them the opportunity to except all the terms of your bankruptcy. At this meeting, it is usually filled with more than one case’s creditors and can be done in a forum style setting.

Objections to Initial Terms

After this meeting your creditors will have up to 60 days to object to the first meeting. Objections to discharge debt listed in your petition or schedules should be addressed at this time.

In 90 days, the government entities will accept your documents and these documents submitted to the government will cover the amount you owe the creditors. Your attorney should be present during the hearing for any objections. You may be asked to appear or you will receive a letter informing you from the trustee.

Commonly Objected Terms

Your creditors could object to the following:

• Misconduct took place;
• Fraud;
• Embezzlement;
• Larceny;
• Divorce or separation- not including children;
• Destruction of property or financial records;
• Concealment;
• False statements;
• Failing to explain losses; and
• Discharge in case filed in last 6 years.

Meeting the Trustee

The trustee is required to ask you several questions during the first meeting regarding the process and your understanding of filing chapter 7. The trustee will then explain to you and make sure you understand what it means to reaffirm your debt when filing a chapter 13. The trustee will also explain to you what is means to discharge.

After the initial meeting, the trustee has up to 60 days to dismiss the case, and up to 90 days to discharge it. Non-exempt property can over-turn your discharge if not taken care of during this time.

In three years from the time the first payment was made on a bankruptcy case, if any government entities have claims against you, such as the IRS, they then have 180 days to file that claim.

What to Expect

These are the standard questions asked at a creditors meeting:

• Did you list all your assets?
• Did you read the schedules before signing?
• Did you list all your debts?
• Are your schedules accurate?
• Did you make any corrections to the schedules?
• Have you lived in your current state in the past 2 years?
• Do you owe anyone domestic support?
• Have you destroyed your credit cards?
• Are your vehicles insured?

Although most creditors do not attend the meeting, they are invited. Those who wish not to attend mostly have security interests in the debtor’s assets or those who feel they were defrauded.

The debtor must appear at the first meeting. During the first meeting, the trustee can ask you questions about your assets while you are under oath. The debtor can also be questioned under oath while in attendance. After the case has begun, any wages earned by the debtor are the debtors; they can not be reached by the creditors that have discharged claims on the date of filing.

• If you need help with filing bankruptcy, click here for a Free Case Review with a Bankruptcy Lawyer near you. The content of this website is provided for informational purposes only, and nothing here should be taken as legal advice.