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Preparing the Debtor for Meeting of Creditors

After a debtor files for a bankruptcy petition the court will allot a hearing date for Meeting of Creditors as specified under Section 341 of the Bankruptcy Court.  The trustee assigned to the debtor’s case will be in charge of reviewing the bankruptcy papers and selling off the debtor’s non-exempt assets to pay creditors.

The meeting of creditors is generally a very simple procedure.  The meeting will not be conducted in open court.  There will not be any presiding judge or jury.  In the majority of cases, the meeting is held in a room in a local Federal building.  In some situations, if a local Federal building is not convenient, the meeting may be conducted in a court room, but court will not be in session.

The debtors should review bankruptcy petition and documents prior to the Meeting of Creditors.  A debtor should also be prepared with the types of questions bankruptcy trustee may ask.

During the process, the trustee, or an attorney from the trustee, will ask that the debtor to provide an identification document and a social security card.  After the debtor presents his identification, he will be asked to take an oath.  After that, the debtor will be asked questions for five to ten minutes.  Most of the questions will be simple and routine.  For instance, the debtor will be asked to give his name and address, confirm that he has read the bankruptcy petition, authenticate that s/he signed it, and that the bankruptcy petition is true and correct.

Inside Preparing the Debtor for Meeting of Creditors