The Chapter 13 Meeting of Creditors

Have you recently filed Chapter 13 Bankruptcy? Do you have an upcoming Meeting of Creditors hearing? Many Chapter 13 debtors get a little nervous about the meeting since they are not exactly sure what to expect. So, I decided to take some notes on exactly what happens during the meeting for the benefit of those who have an upcoming meeting. Of course, I knew what was going to happen since I've done these hearings before for my clients, but I wanted to note the exact words this hearing officer (trustee) was using and the exact questions she was asking. Sometimes, clients have visions that creditors are going to sit there and hammer them all day with questions or something. This is just not the case, in my experience. Let's start with some basics.What is the Meeting of Creditors?The Meeting of Creditors is a hearing that is held 20 to 40 days after the bankruptcy petition is filed. The debtor must attend this meeting, at which creditors may appear and ask questions regarding the debtor's financial affairs and property. If a husband and wife have filed a joint petition, they both must attend the creditors meeting. The trustee also will attend this meeting. It is important for the debtor to cooperate with the trustee and to provide any financial records or documents that the trustee requests.The trustee is required to examine the debtor orally at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy, including the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt.In some courts, trustees may provide written information on these topics at or in advance of the meeting, to ensure that the debtor is aware of this information. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. This paragraph was adapted from Bankruptcy Basics, a FREE publication, to receive a copy go to http://www.bankruptcyzone.com/index.php/free-ebook/.What Can You Expect at the Meeting?Well, that's what this article is all about. Let's talk about that:If you have an upcoming meeting of creditors hearing, the best way to overcome your fear of the unknown is simply to go to a meeting(before yours) and just sit there and observe. That will probably prepare you much more than if you learn about it second hand.So what I've tried to do is give you blow by blow of what happened at this particular meeting of creditors about a week ago (December, 2005). I primarily practice Bankruptcy in the Northern District of California, although I can practice anywhere in California.Disclaimer: The following is an example of what occurred on a particular date in my jurisdiction (Northern District of California, Oakland Division) at a Chapter 13 Meeting of Creditors hearing in December, 2005. This may vary dramatically