Bankruptcy Hearing
Bankruptcy hearing is the process carried out in the court in presence of the trustee and person who have filed bankruptcy. The creditors, attorneys and other people can also attend the hearing. It is always a good practice to attend a few hearings of other people in the court before you stand in the court for your own hearing.
Hearing Process
After you have filed the bankruptcy and filed several forms with the required information such as your current debts, income sources, assets, etc to carry out your hearing, the court will notify you within 30 to 40 days to attend the hearing which is often termed as "First Meeting of Creditors". Although termed "First Meeting of Creditors", creditors hardly attend chapter 7 cases. In chapter 7 the hearing is carried out for not more than few minutes. The trustee who is a court authority carries out the hearing by asking you certain questions so as to check if you are fit for chapter 7 bankruptcy. The questions generally are related to your assets, current income, bankruptcy papers and other things. After the trustee is finished, the creditors if present are given a chance to ask questions to the debtor. The attorney appointed by you is present by your side at the time of hearing. Chapter 13 hearing is not much different than chapter 7 hearing. In chapter 13 the trustee asks you questions regarding the feasibility of the plan you submitted to make payments. Creditors too can be present at Chapter 13 hearing to provide answers to some informative questions.
Documents Required At the Hearing
Documents such as your Photo I.D issued by the state, social security card, notice of the court, debtor's property information, informative documents of the debtors income, assets, and the information of debtors living expenses. These documents can be prepared well in advance with the help of the attorney.
After The Hearing
Within 60 to 70 days after the first hearing, the court will automatically discharge your debts. One is not supposed to visit the court after first hearing. In case a creditor files a motion or adversary action against you, you may have to make it to the hearing else the first hearing is the last one.
It is always a good practice to attend a few hearings of other people in the court before you stand in the court for your own hearing. Since it can be your first time, you can ease out a bit by getting to know how smoothly the proceedings are carried out.
Other useful links:
[Bankruptcy Procedure] | [ Filing Bankruptcy]
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