What is a Meeting of the Creditors?
What is the Meeting of Creditors?
At this hearing, the trustee will “swear in” the debtor. After that, the trustee will ask the debtor a series of questions to determine if there are assets or income that can be recovered from the debtor and paid to the creditors. Attendance at this hearing is mandatory. If a debtor fails to appear at this meeting, then they will not receive a bankruptcy discharge.
The bankruptcy trustee controls the meeting. Creditors have the right to show up to question the debtor as well. It is rare that a creditor will actually appear at the meeting. This is not a formal court hearing. For most debtors in Chapter 7 and Chapter 13 cases, the hearing can be completed in a matter of minutes.
When is the Meeting of Creditors?
The meeting is typically scheduled 21-40 days after a bankruptcy petition is filed.
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