Whether you file Chapter 7, 13, or 11, you are required to attend a hearing called the Meeting of Creditors. Don’t be alarmed or intimidated. It is not a difficult process as long as you are reasonably prepared. Here is a sampling of questions and answers.
Here are some tips from an experienced bankruptcy lawyer who has been doing this for 26 years: speak up, don’t freak out, turn your cellphones off, only answer the questions which are asked of you, and don’t offer any additional information. These trustees do not want to hear your life story, they just want you to answer a few questions so that they can go to lunch. Here is a list of expected questions: (1) Can I see your driver’s license? (2) Can I see your social security card or other tax ID like a W-2 form to prove up your social security number? (3) What is your name? (4) What is your address? (5) Did you read your bankruptcy papers before you signed them? (6) Is everything in there true and correct? (7) Are there any errors or omissions that you want to bring to my attention now? (8) Did you transfer or sell any big ticket items out of your name in the last two to four years? (9) When did you buy your house? (10) How much did you pay for your house? (11) When was the last time you used any of your credit cards? (12) Are you married? (13) If you have a business, what does the business do? (14) Does anyone owe you any money? (15) Did you pay back any loans to friends or relatives within the last one year?
For the most part, this should be the end of your interactions with the trustee. Don’t freak out though if they continue the hearing for some reason. Most of the time if this happens, the trustee just wants to review additional documents which he is asking from you. If you timely provide the documents to the trustee, you will not have to come back again.