Your initial creditors’ meeting will be held in court? Users think, “What are they going to ask me?”
In their minds, most bankruptcy clients take a test on the information in their bankruptcy documents. Or even worse, asking them why they felt the need to declare bankruptcy. That’s something improbable. It is much more likely that the initial creditors’ meeting will be a boredom. A very thorough list of inquiries that a Chapter 7 trustee could make at your bankruptcy hearing is listed below:
- Pay attention to the query
Listen to the trustee’s inquiry all the way through even if you believe you already know the answer since you’ve read it beforehand from your lawyer.
First and foremost, it’s just respectful. Second, users should confirm that you are aware of the trustee’s requirements. Our response is being noted. Make sure that the person is responding to the trustee’s question before they answer.
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- Honestly respond
The cost of receiving a bankruptcy discharge is open disclosure. Being sweet or telling lies at this moment is not appropriate. Your response is made under oath. If you are purposefully being dishonest, you might face perjury charges.
- Be succinct
In as few words as you can, honestly respond to the trustee’s inquiry. Don’t ramble, don’t justify, and don’t explain. Simply respond to the query. The trustee has the option to ask a follow-up inquiry if he needs to know more.
Typically, the trustee is only attempting to document that he has completed his duties. He has a list of the cases he’s finished. Don’t volunteer more information than he needs to know in order to prolong his day.
- Don’t speculate
Say so if one are unsure of the response to a question. It’s fine as long as the response is truthful. Well perhaps ones advice may be helpful. There may be documents that give the details.
If you don’t feel truly certain, don’t act as though you are. In bankruptcy court, everything is OK.
The likelihood that the first meeting of creditors will be the last and that you’ll be on your way to a fresh start increases if you’ve been careful about providing your attorney with all the necessary information.