What You Should Know About The Meeting Of Creditors In Colorado
For most people who file bankruptcy, the meeting of creditors is the one appearance that they have to make during the bankruptcy process. Keep in mind that it is not a court appearance. The meeting is not held in a courtroom. Right now, the meeting of creditors in Denver is being held in an office building down the street from the courthouse while it undergoes renovation. The meeting of creditors in Fort Collins is actually held in a conference room in the Hampton Inn hotel. No judge is at the meeting. In fact, judges are prohibited by the Bankruptcy Code from attending the meeting.
While I counsel my clients not be overly anxious about the meeting, it’s important that they be prepared. If you’re getting ready to appear at your meeting of creditors, here are some things to know before you go.
First and foremost, you should be familiar with your bankruptcy petition. Even though you should have read it before it was filed, go over it again to make sure the information is fresh in your mind and no changes need to be made. It may have been a month or more since you last looked at it. Second, make sure you have everything you need for the appearance. That is your driver’s license, your Social Security card (make sure it’s not laminated), any paystubs you’ve received since your petition was filed, and bank statements that reflect your bank balance on the day your petition was filed.
You should also know that despite its name, creditors rarely show up to these meetings. Ex-spouses sometimes come to ask what happens to debts that were divided in the divorce agreement, or if someone has been hiding a boat or other collateral, a creditor might show up to ask where it’s located.
Otherwise, the meeting of creditors typically involves the filer being interviewed by the bankruptcy trustee. Since the meeting is public, your interview will take place in front of other filers and their attorneys. You’ll be called up to the trustee’s table with your attorney and sworn in. The trustee will then ask a series of questions and generally follows a script. She’ll ask you your name, address, where you work, whether you read the petition before it was filed, whether you have any changes, and a few other questions.
You should answer her questions truthfully, but that doesn’t mean you need to give her any other information than what she asked for. Answer only the question she asked. If she wants to know more, she’ll ask another question.
If you have any questions about your meeting of creditors, you should talk to your lawyer before the day of the meeting to make sure she has time to answer your question. The last thing you want is for undisclosed issue to come up for the first time in front of the trustee.
Learn More About The Meeting Of Creditors
If you have questions about the bankruptcy process, including the meeting of creditors, we hope you’ll come in for a free, no-obligation consultation. You can schedule an appointment with a bankruptcy attorney online or call 303.331.3403.