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Working With A Bankruptcy Professional

A few years ago, when I realized that I couldn't pay my mortgage anymore, I knew that I needed to do something to correct my finances. It seemed like I just couldn't catch a break, and after losing my job, I knew that I was in trouble. I started looking for new work, but I knew that I needed to fix my credit somehow. I was at the end of my rope, until a friend talked with me about the possibility of declaring bankruptcy. She explained that it helped her to start over. I met with a bankruptcy attorney who was incredible to work with, and I was amazed at how much it helped my situation. Check out this blog to learn how working with a bankruptcy professional could help you.


Working With A Bankruptcy Professional

Don’t Be Nervous: How to Handle Your Chapter 7 Creditor’s Meeting Easily

by Roël Schiks

After you file chapter 7, you will be asked to appear at the 341 meeting (named after the bankruptcy code number). Most people, though, refer to this event as the creditor's meeting. This meeting is nothing to get worried about, and after reading the information below, you will be more than ready for it.

Be Ready for the Meeting

Your goal is to arrive on time (or early) because late-comers could be locked out and be forced to reschedule. With that in mind, follow these tips:

  1. You will receive a letter with instructions on where to go and when.
  2. In most cases, the meeting is held either in a large conference room or a courtroom in a federal courthouse.
  3. Familiarize yourself with the area since most courthouses are located in congested downtown areas.
  4. You will be told where to park and about any fees for doing so.
  5. If you are unsure of exactly where you are going, leave your home 30 to 45 minutes early on top of drive time.

Once You Arrive

If the doors are open, find a chair. You won't be alone because these meetings tend to be made up of mass filers with the same court date and time as you. You can predict when your name will be called as the list is almost always alphabetical. Your lawyer will touch base with you but may not sit with you the entire time. Most bankruptcy cases don't require legal support during the creditor's meeting since they are just routine events.

During the Meeting

These meetings are presided over by the bankruptcy trustee, in most cases, rather than a judge, although some trustees are lawyers and judges. The atmosphere at a creditor's meeting is somewhat serious but not as formal as a court proceeding. As far as creditors go, few to none attend the meeting.

As you are called, you will stand and recite the oath to tell the truth. Then, the trustee asks a few common questions about your case. Do you agree with what you signed? Is it accurate? Etc. If issues arise, your lawyer will be there to assist you. For most filers, though, things are over before you know it, and your first and only bankruptcy appearance is in your rearview mirror. Soon, a letter from the trustee will arrive discharging your burdensome debt load. To find out more, speak to your bankruptcy lawyer.