In my Bankruptcy Alphabet, F is for First meeting of creditors. Lots of rumors exist about the that meeting; it produces unwarranted anxiety that is avoidable if you understand what’s up. Let’s check it out. The first meeting of creditors, also called the 341 meeting, is often the only time a debtor has to appear […]
Who Cares About Your Spending Before Bankruptcy?
Worried about using credit cards before bankruptcy? Afraid of prejudicing your bankruptcy case by spending money before you file? Do you imagine some authority figure deciding that your financial behavior in the run-up to bankrupcy bars you from relief? Take a deep breath. That’s not how it works. Let’s look at what matters and what […]
Going To Court In Your Bankruptcy Case
Every bankruptcy debtor must go to court in their bankruptcy case. It’s usually the first and only time that your personal appearance is required. And these days, your “personal appearance” is by Zoom. What’s the point of going to court The first meeting of creditors has two basic purposes: to have the debtor validate the […]
4 Rules For Testifying At Your Bankruptcy Meeting of Creditors
Testifying at your bankruptcy hearing? Worried sick? What are they going to ask me?, you wonder. My bankruptcy clients imagine a quiz on the contents of their bankruptcy papers. Or worse, an inquisition on why they needed to file bankruptcy. That’s not likely. The first meeting of creditors is much more likely to be a […]
