Everyone who files a Chapter 7 or 13 bankruptcy must attend a creditors’ meeting. The prospect of facing creditors is intimidating to many people, but in most cases it is quick and uneventful. In fact, although creditors have the right to attend the meeting and ask questions, they almost never show up.

The meeting of creditors is conducted by the bankruptcy trustee assigned to your case, without a judge present. It will usually take place between 21 and 50 days after you file your petition. The date, time and place of the meeting are set by the court. It’s always a good idea to arrive 20 to 30 minutes before the scheduled time so you can park, get through security and get settled.

When you arrive, you’ll meet with your lawyer for a few minutes to discuss any final details and then you’ll enter the hearing room. Usually there are several other bankruptcy filers and their attorneys there as well and you will wait for your turn to be called. When you’re called, you and your lawyer sit down with the trustee and any creditors who may appear.

The trustee runs the meeting. You’ll first present your Social Security card and a government-issued ID to the trustee for verification of your identity. Then, you will be placed under oath and the trustee will ask a few questions about your petition and particularly about assets, liabilities, financial condition and other factors that might affect the administration of your case. You’ll also be asked about your understanding of the bankruptcy process.

Your lawyer will have talked with you beforehand about what questions are likely to be asked. The questions can differ slightly for Chapter 7 versus 13. For example, if you filed Chapter 7, you’ll probably be asked more questions about your property and its value. If you filed Chapter 13, you might expect more questions about your income and ability to make your proposed payments. Otherwise, the questions are routine and basic, such as these:

• Did you disclose all of your assets?
• Did you list all of your creditors?
• Have you filed for bankruptcy before?
• Has anything changed since filing your bankruptcy?

The whole meeting usually lasts less than half an hour. Despite its brevity, it is not something you can skip. The trustee has the power to dismiss your case if you do not appear. Furthermore, if your case involves you and your spouse filing bankruptcy jointly, you will both need to appear at the meeting.

At the Law Offices of James C. Zimmermann, we have extensive experience representing New Jersey debtors in bankruptcy cases. We will guide you through the creditors’ meeting and all other parts of the process. Give us a call at 973-764-1633 or contact us online to get all your bankruptcy questions answered. We have offices in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.