Ive filed chapter 7 bankruptcy and tomorrow I have my meeting of the creditors. What can I expect to happen here and about how long will it take? My case was pretty easy and I didnt have any problems. Thanks in advance.
2007-02-14 22:24:19 · 1 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
They will ask a whole lot of questions, and if this is the official meeting arranged by the court, you will probably be given an oath that you will tell the truth. It will be recorded by a court reporter, just like a deposition.
The questions will be with the idea of whether you have concealed or illegally transferred assets to avoid paying creditors. Also, the creditors will get to know each other, how much you owe to each, and what percentage of what you owe to each they can expect to recover. If they are easily satisfied that there are no hidden assets, the whole thing could take less than an hour. More likely, it will take several hours.
2007-02-16 20:38:56 · answer #1 · answered by auntb93again 7 · 0⤊ 0⤋