Hello, all ye faithful. I don’t know what you are faithful to, anyway, since I’m slowly loosing™ confidence in our institutions. But hey, isn’t it a nice thing to know that I’m still here for you?
November 22nd is (supposedly, yet again) the new foreclosure date for the Serins. But before that, in just about 2 days, something big is also going to happen: a Meeting of Creditors, on the Sacramento, Ca. Courthouse.
What is a Meeting of Creditors?
The Meeting of Creditors is a hearing that is held 20 to 40 days after the bankruptcy petition is filed. The debtor must attend this meeting, at which creditors may appear and ask questions regarding the debtor’s financial affairs and property. If a husband and wife have filed a joint petition, they both must attend the creditors meeting. The trustee also will attend this meeting. It is important for the debtor to cooperate with the trustee and to provide any financial records or documents that the trustee requests.
The trustee is required to examine the debtor orally at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy, including the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt.
Here are some of the common questions a trustee might ask at a Meeting of Creditors:
- State your Name and Address for the Record
- Did read your bankruptcy papers before you signed them?
- Did you read and sign the meeting questionnaire?
- Did you understand the questionnaire?
- Did you list all your assets?
- Did you list all you debts?
- Did you list all your income?
- Is there any reason to make any changes to your schedules?
Have you transferred any property or money to any family members in the last year?
- Are there any creditors present?
If Anna answers truthfully, creditors are truly going to find out something is wrong. If she does it the Serin way, she’s going to be lying under oath.
Either way, we win,
October 27th, 2010