2006-12-02 22:17:27 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Everyone tells there side, then judge makes a dision.
2006-12-02 22:26:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
When you file Chapter 7 bankruptcy, the Court schedules a 341 meeting of creditors. The hearing is not actually in front of a judge - instead, it is in front of the bankruptcy trustee assigned to your case.
The hearing lasts approximately 5 minutes. You will be sworn in and your testimony will be electronically recorded. You must present the trustee with an original photo i.d. and social security card so that s/he can verify your identity.
The trustee will then ask questions verifying that the information on your bankruptcy schedules is correct and other questions regarding your assets and debts. The trustee may also request that you send additional documentation and/or turn over assets.
After the trustee finishes his/her questioning, your creditors will then be allowed to ask questions. In most Chapter 7 cases, no creditors attend.
To find out more, check out:
2006-12-03 13:57:43 · answer #2 · answered by Dawn H 2 · 0⤊ 0⤋
I practice bankruptcy law in California. Dawn's answer is pretty accurate, assuming you do not have any assets to distribute to creditors. I would add that you will generally receive your discharge 60 day after the first Meeting of Creditors.
Some bankruptcy cases can drag on if there are disputes over you eligibility for a discharge or other issues. Most cases run pretty smoothly, but you should always consult a local bankruptcy attorney for good advice.
2006-12-04 12:08:05 · answer #3 · answered by Carl 7 · 0⤊ 0⤋
each side hearing...and proper judgement pass by the jury..
2006-12-03 04:59:18 · answer #4 · answered by dinbandhuroy 2 · 0⤊ 0⤋