Will I have to go to court if i file bankruptcy
In most bankruptcy cases, a “meeting of creditors” is usually held 20
to 40 days after the petition for bankruptcy is filed. This meeting is
generally held in a typical office rather than a Court room. The
debtor must attend this meeting and is accompanied by his/her
attorney. Creditors may also appear and ask questions regarding the
debtor’s financial affairs and property, but in practice, they rarely
do. The trustee, who is an attorney appointed by the U.S. Trustee's
office to administer bankruptcy cases, will also attend this meeting
and question the debtor to confirm that the information listed in their
petition is accurate.
Below is a list of the most common questions asked at the Meeting of Creditors:
1. State your name and current address for the record.
2. Please provide your picture ID and Social Security card for review.
a. If the documents are in agreement with the section 341(a) meeting notice, a suggested statement for the record is: “I have viewed the original state of New York drivers license (or other type of original photo ID) and original Social Security card (or other original document used for proof) and they match the name and social security number on the section 341(a) meeting notice.”
b. If the documents are not in agreement with the section 341(a) meeting notice, a suggested statement for the record is: “I have viewed the original Social Security card (or other original document used for proof) and the number does not match the number on the section 341(a) meeting notice. I have instructed the debtor (or debtor’s counsel) to submit to the court an amended verified statement by [date], with notice of the correct number to all creditors, the United States Trustee, and the trustee, and to file with the court a redacted copy of the notice, showing only the last four digits of the Social Security Number, and a certificate of service.”
c. When the documents do not match the petition, the trustee shall attempt to ascertain why, and shall report the matter to the United States trustee.
d. If the debtor did not bring proof of identity and Social Security Number, the trustee shall determine why and will most likely adjourn the meeting and make the Debtor come a different date.
3. Did you sign the petition, schedules, statements, and related documents and is the signature your own? Did you read the petition, schedules, statements, and related documents before you signed them?
4. Are you personally familiar with the information contained in the petition, schedules, statements and related documents?
To the best of your knowledge, is the information contained in the petition, schedules, statements, and related documents true and correct? Are there any errors or omissions to bring to my, or the court’s, attention at this time?
5. Are all of your assets identified on the schedules? Have you listed all of your creditors on the schedules?
6. Have you previously filed bankruptcy? (If so, the trustee must obtain the case number and the discharge information to determine the debtor(s)’ discharge eligibility.)
7. What is the address of your current employer?
8. Is the copy of the tax return you provided a true copy of the most recent tax return you filed?
9. Do you have a domestic support obligation? To whom? Please provide to me the claimant’s address and telephone number, but do not state it on the record.
10. Have you read the Bankruptcy Information Sheet provided by the United States Trustee?
Sample General Questions
1. Do you own or have any interest whatsoever in any real estate
If owned: When did you purchase the property? How much did the property cost? What are the mortgages encumbering it? What do you estimate the present value of the property to be? Is that the whole value or your share? How did you arrive at that value?
If renting: Have you ever owned the property in which you live and/or is its owner in any way related to you?
2. Have you made any transfers of any property or given any property away within the last one year period (or such longer period as applicable under state law)? If yes: What did you transfer? To whom was it transferred? What did you receive in exchange? What did you do with the funds?
3. Does anyone hold property belonging to you? If yes: Who holds the property and what is it? What is its value?
4. Do you have a claim against anyone or any business? If there are large medical debts, are the medical bills from injury? Are you the plaintiff in any lawsuit? What is the status of each case and which is representing you?
5. Are you entitled to life insurance proceeds or an inheritance as a result of someone’s death?
If yes: Please explain the details. If you become a beneficiary anyone s estate within six months of the date your bankruptcy petition was filed the trustee must be advised within fourteen days through your counsel of the nature and extent of the property you will receive.
6. Does anyone owe you money? If yes: Is the money collectible? Why haven’t you collected it? Who owes the money and where are they?
7. Have you made any large payments, over $600, to anyone in the past year?
8. Were federal income tax returns filed on a timely basis? When was the last return filed~ Do you have copies of the federal income tax returns? At the time of the filing of your petition, were you entitled to a tax refund from the federal or state government? If yes, Inquire as to amounts
9. Do you have a bank account, either checking or savings? If yes: In what banks and what were the balances as of the date you filed your petition7
10. When you filed your petition, did you have:
a. Any cash on hand?
b. Any U.S. Savings Bonds?
c. Any other stocks or bonds?
d. Any Certificates of Deposit?
e. A safe deposit box in your name or in anyone else’s nam~
11. Do you own an automobile? If yes: What is the year, make, and value? Do you owe money on it? Is it insured?
12. Are you the owner of any cash value life insurance pohcies?
If yes: State the name of the company, face amount of policy cash surrender value if any and the beneficiaries
13. Do you have any winning lottery tickets?
14. Do you anticipate that you might realize any property, or otherwise, as a result of a divorce or separation proceeding?
15. Regarding any consumer debts secured by your property, have you filed the required Statement of Intention with respect the exemption, retention, or surrender of that secured property. Please provide a copy of the statement to the trustee Have performed that intention?
16. Have you been engaged in any business during the last 6 years?
If yes: Where and when? What happened to the assets of business?
Below is a list of the most common questions asked at the Meeting of Creditors:
1. State your name and current address for the record.
2. Please provide your picture ID and Social Security card for review.
a. If the documents are in agreement with the section 341(a) meeting notice, a suggested statement for the record is: “I have viewed the original state of New York drivers license (or other type of original photo ID) and original Social Security card (or other original document used for proof) and they match the name and social security number on the section 341(a) meeting notice.”
b. If the documents are not in agreement with the section 341(a) meeting notice, a suggested statement for the record is: “I have viewed the original Social Security card (or other original document used for proof) and the number does not match the number on the section 341(a) meeting notice. I have instructed the debtor (or debtor’s counsel) to submit to the court an amended verified statement by [date], with notice of the correct number to all creditors, the United States Trustee, and the trustee, and to file with the court a redacted copy of the notice, showing only the last four digits of the Social Security Number, and a certificate of service.”
c. When the documents do not match the petition, the trustee shall attempt to ascertain why, and shall report the matter to the United States trustee.
d. If the debtor did not bring proof of identity and Social Security Number, the trustee shall determine why and will most likely adjourn the meeting and make the Debtor come a different date.
3. Did you sign the petition, schedules, statements, and related documents and is the signature your own? Did you read the petition, schedules, statements, and related documents before you signed them?
4. Are you personally familiar with the information contained in the petition, schedules, statements and related documents?
To the best of your knowledge, is the information contained in the petition, schedules, statements, and related documents true and correct? Are there any errors or omissions to bring to my, or the court’s, attention at this time?
5. Are all of your assets identified on the schedules? Have you listed all of your creditors on the schedules?
6. Have you previously filed bankruptcy? (If so, the trustee must obtain the case number and the discharge information to determine the debtor(s)’ discharge eligibility.)
7. What is the address of your current employer?
8. Is the copy of the tax return you provided a true copy of the most recent tax return you filed?
9. Do you have a domestic support obligation? To whom? Please provide to me the claimant’s address and telephone number, but do not state it on the record.
10. Have you read the Bankruptcy Information Sheet provided by the United States Trustee?
Sample General Questions
1. Do you own or have any interest whatsoever in any real estate
If owned: When did you purchase the property? How much did the property cost? What are the mortgages encumbering it? What do you estimate the present value of the property to be? Is that the whole value or your share? How did you arrive at that value?
If renting: Have you ever owned the property in which you live and/or is its owner in any way related to you?
2. Have you made any transfers of any property or given any property away within the last one year period (or such longer period as applicable under state law)? If yes: What did you transfer? To whom was it transferred? What did you receive in exchange? What did you do with the funds?
3. Does anyone hold property belonging to you? If yes: Who holds the property and what is it? What is its value?
4. Do you have a claim against anyone or any business? If there are large medical debts, are the medical bills from injury? Are you the plaintiff in any lawsuit? What is the status of each case and which is representing you?
5. Are you entitled to life insurance proceeds or an inheritance as a result of someone’s death?
If yes: Please explain the details. If you become a beneficiary anyone s estate within six months of the date your bankruptcy petition was filed the trustee must be advised within fourteen days through your counsel of the nature and extent of the property you will receive.
6. Does anyone owe you money? If yes: Is the money collectible? Why haven’t you collected it? Who owes the money and where are they?
7. Have you made any large payments, over $600, to anyone in the past year?
8. Were federal income tax returns filed on a timely basis? When was the last return filed~ Do you have copies of the federal income tax returns? At the time of the filing of your petition, were you entitled to a tax refund from the federal or state government? If yes, Inquire as to amounts
9. Do you have a bank account, either checking or savings? If yes: In what banks and what were the balances as of the date you filed your petition7
10. When you filed your petition, did you have:
a. Any cash on hand?
b. Any U.S. Savings Bonds?
c. Any other stocks or bonds?
d. Any Certificates of Deposit?
e. A safe deposit box in your name or in anyone else’s nam~
11. Do you own an automobile? If yes: What is the year, make, and value? Do you owe money on it? Is it insured?
12. Are you the owner of any cash value life insurance pohcies?
If yes: State the name of the company, face amount of policy cash surrender value if any and the beneficiaries
13. Do you have any winning lottery tickets?
14. Do you anticipate that you might realize any property, or otherwise, as a result of a divorce or separation proceeding?
15. Regarding any consumer debts secured by your property, have you filed the required Statement of Intention with respect the exemption, retention, or surrender of that secured property. Please provide a copy of the statement to the trustee Have performed that intention?
16. Have you been engaged in any business during the last 6 years?
If yes: Where and when? What happened to the assets of business?