Aug 06

Chapter 7 bankrputcy and meeting your creditors

When you file for Chapter 7 bankruptcy, you will have a meeting with someone who represents your creditors (called a “trustee”). At this meeting you, the trustee and your attorney will review your bankruptcy filing and the trustee will ask a few questions about your financial circumstances. These meetings typically take place in a courtroom and you will be sworn in like at a jury trial so everything you say will be under oath.

The meeting will last anywhere from five minutes for the least complicated filings, to one hour. If there are questions about your filing and the trustee challenges you, she will not go over every detail on the spot, but will refer your case to a different court on a different date. For most people this will not happen and there is no reason to be intimidated. Routine filings do not require a judge be present, and while you creditors are legally permitted to be present to question you, it is not common.

Pro tip: try to schedule your meeting as late in the day as possible (Fridays are best) because by that time the trustee and your lawyer will be ready to go home!