Once our Scott County bankruptcy attorneys file your bankruptcy petition, we accompany you to the “First Meeting of Creditors.” While this seems intimidating, it's misleading considering creditors rarely attend these meetings. This meeting is between you, your attorney and the bankruptcy trustee assigned to your case. The trustee asks you preliminary questions and may do the following:
- Confirm your identity through a photo ID and social security card.
- Swear you in and put you under oath.
- Ask if you've reviewed your schedules before they were filed and ask you to confirm that they are true and correct.
- Ask if you have reviewed required notices provided by your attorney regarding bankruptcy and your alternatives.
Once these questions are put on record and established, the trustee asks you questions regarding your schedules and finances. You can read a transcript of the bankruptcy trustee's usual questions here. Once the trustee enters a finding stating that you have no non-exempt assets for collection on your behalf they will recommend your debts be released. Once this happens, the case will close for a brief period. During this time creditors have the right to object to the discharge, which seems intimidating but rarely happens.
Read more about the First Meeting of Creditors.