What to Expect at the Meeting of Creditors

Everyone who files bankruptcy must attend a meeting of creditors.  When I explain this necessity to my clients, some of them are understandably nervous about what to expect at such a meeting.  Not to worry, the meeting of creditors is no big deal if you have some idea what it's about.  First of all, "meeting of creditors" is something of a misnomer as very rarely do any creditors show up.  Instead, the people who are present are usually you (and your spouse if a joint filing), your attorney, maybe another ten or so people who are also filing bankruptcy and their attorneys, and finally the trustee.  The meeting is held in an office rather than a courtroom.  There is no judge present (the trustee is not a judge-just a court-appointed lawyer who has the job of making sure the paperwork is in order).  The trustee will call off the names of everyone who is scheduled to appear, give a little introductory statement about how he is going to conduct the meeting, and then call the first case.  When your case is called, you and your attorney go and sit near the trustee at a desk.  The first thing you do is hand over your picture ID, proof of SSN, last paycheck you received, and a bank statement showing what was in your account on the date you filed.  Some trustees want some additional documents but your attorney will go over that with you before hand.  Then the trustee will ask you a handful of very simple questions like, "State your name and your address.  Did you read and sign the bankruptcy papers your lawyer prepared?  Does it list all of your assets and debts?  Do you need to make changes?"  That's usually it.  Occasionally the the trustee will question you about a particular debt or piece of property.  The questioning on average lasts less than three minutes and you're done.  See, nothing to worry about!