Bankruptcy

What Happens at My Chapter 7 Court Date?

By info

When you go into Bankruptcy Court for your Chapter 7 hearing, you appear before a Bankruptcy Trustee in what is known as a ?341 Meeting.? Your hearing takes place in a conference room rather than a courtroom; however, you must be neatly groomed and appropriately dressed as for any official occasion.You must bring photo identification and your Social Security Card. If you forget either of these things, the Trustee?s Clerk may have to reschedule your hearing.

You will be sworn in before testifying. The Trustee?s job is to identify and liquidate all ?property of the estate? that your attorney has not exempted. The Trustee?s questions depend on the complexity of your bankruptcy. In the unlikely event that a creditor objects to your bankruptcy, the Trustee examines the objections and tries to resolve the issue on the spot. You will, as in all official hearings, be asked to state your name and current address for the record. The Trustee will ask you to authenticate your signature on the bankruptcy filing. The Trustee wants to know that you have read and understand the Chapter 7 information that the Court provides when you checked in with the Clerk. Also, you need to let the Trustee know that you have read the bankruptcy filing and that it is true. The Trustee will ask questions about your income, real estate, personal property, and assets such as life insurance and 401K accounts.

It may sound like a lot, but don?t forget that you?re not on your own. Your bankruptcy attorney will have helped you adequately prepare for your hearing, so that the Trustee?s questions will be simple and easily answered.

The forgoing post was drafted by Attorneys Marsha Graham and Liz Weishaar who work in an of counsel relationship with the Law Office of Goldstein and Clegg, as well as for Weishaar and Graham.

Full post as published by Bankruptcy Articles & Blog on February 15, 2010 (boomark / email).