What is the meeting of creditors in a Chapter 7 bankruptcy?

, ,

Whether you have already started the process of filing for bankruptcy or you are simply gathering more information about the process, it is important that you know about the meeting of creditors. This mandatory meeting is essential for all who file for Chapter 7 bankruptcy in Illinois or anywhere else across the nation. Since declaring Chapter 7 bankruptcy may ultimately end in full discharge of your medical expenses, credit card debt and other unsecured loans, the creditors involved in the case are given an opportunity to state their case and ask questions before the court-appointed trustee.

When filing an application for bankruptcy, you are required to provide a comprehensive list of creditors who you owe money to. According to the U.S. Courts, all creditors are invited to attend the meeting and ask the debtor questions regarding the bankruptcy case. As the debtor, attendance at the meeting is mandatory. In addition to creditor questions, the trustee will ensure that you understand the impact that filing for bankruptcy will have your financial health. Not only does this include your credit report, but also a reaffirmation of debt, liquidation of property and what types of debt are not eligible for discharge.

The trustee presiding over the case may wish to obtain further documentation regarding property and/or assets in your case. It is crucial that you provide this documentation to the trustee as soon as possible to avoid delays in the case.

The information should be used for educational purposes only and should not be taken as legal advice.

Link to: Contact Us

Still Have Questions? Feel Free To E-mail Us

In certain cases, we are even able to offer a same-day bankruptcy filing with no money down – saving you time and money. Need help filing bankruptcy we can help you start.

Great feedback is always needed in order to improve and grow our bankruptcy law firm Please fill free to leave a review, let us know who your attorney was, did we provide great customer service, were we professional, did we get your the information you were looking for? We want to know.

Leave A Review

Located in Chicago, the law firm of Billbusters, Borges and Wu LLC. represents clients throughout Illinois, including, but not limited to the cities of :Alsip, Arlington, Heights, Bellwood, Berkeley, Berwyn, Blue Island, Bridgeview, Broadview, Brookfield, Burbank, Calumet City, Chicago, Chicago Heights,  Chicago Ridge, Cicero, Country Club Hills, Des Plaines, Dolton, Elk Grove Village, Elmwood Park, Evanston, Evergreen Park, Flossmoor, Forest Park, Franklin Park,  Glencoe,  Glenview, Glenwood, Golf, Hanover Park, Harvey, Harwood Heights, Hazel Crest, Hickory Hills, Hillside, Hines, Hoffman Estates, Hometown, Homewood, Justice, Kenilworth, La Grange, La Grange Park, Lansing, Lemont, Lincolnwood, Lyons, Markham, Matteson, Maywood, Melrose  Park, Midlothian, Morton Grove, Mount Prospect, Niles, Northbrook, Oak Forest, Oak  Lawn, Oak Park, Olympia Fields, Orland Park, Palatine, Palos Heights, Palos Hills, Palos  Park, Park Forest, Park Ridge,  Posen, Prospect Heights, Richton Park, River Forest, River Grove, Riverdale, Riverside, Robbins, Rolling Meadows, Schaumburg, Schiller Park, Skokie, South Holland, Steger, Stone Park, Streamwood, Summit Argo, Techny, Thornton, Tinley Park, Westchester, Western Springs, Wheeling, Willow  Springs, Wilmette, Winnetka, Worth and All of Cook County IL.

DISCLAIMER

The information contained in this website is for general information purposes only. The information is provided by Billbusters, Borges and Wu LLC and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

*For legal fee only. Other conditions apply. Please ask your attorney for details.

Hyperlocal Marketing, Inc. Digital Marketing for Lawyers

© 2019 BillBusters, Borges and Wu, LLC.