What You Should Know About The Meeting Of Creditors When You File Bankruptcy In Colorado
Shortly after we file your bankruptcy petition, you will receive a notice of the meeting of creditors (also called a 341 meeting, for the section of the Bankruptcy Code it’s found in). In Colorado, this meeting is held in one of two rooms in the Colorado bankruptcy courthouse in downtown Denver. Besides you, there will be several other people whose meeting of creditors is being held that day. The meeting of creditors is a public meeting.
Of all of the things that people dread when filing bankruptcy, the meeting of creditors is near the top of the list. They expect creditors to show up and accuse them of being deadbeats and embarrassing them in public. The meeting of creditors is in no way an opportunity for creditors to shame debtors into paying their bills. In fact, creditors rarely even appear at the meeting. Having an attorney at the meeting ensures that any creditor won’t talk you into a new agreement that goes against your interests.
The trustee runs the meeting. After he or she swears you in, she will ask you about your bankruptcy petition and may ask you how you arrived at the value you assigned to certain property. As long as you provided all of the information your attorney asked for, the trustee will only have a few questions.
Altogether, the meeting takes approximately five minutes. It will be over before you know it, and you’ll wonder why you were ever worried in the first place.
Learn More About The Colorado Bankruptcy Meeting Of Creditors At A Free Consultation
To learn more about the Colorado Chapter 7 bankruptcy and Chapter 13 bankruptcy process, we hope you’ll come in for a free, confidential bankruptcy consultation with a Colorado bankruptcy attorney today. You can make an appointment using our online scheduling system or by calling 303.331.3403 to set up a time that is convenient for you.
