14 Aug In a Florida Bankruptcy, What is The Meeting of the Creditors?
The Meeting of the Creditors in Florida Bankruptcy
Within a reasonable time after the initial filing of the Florida Bankruptcy petition, clients will need to meet with the United States trustee for a “meeting of the creditors”. Under 11 USCS § 341 (2012), During this meeting of the creditors, the trustee shall orally examines the debtor to ensure that the debtor is aware of:
(1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
(2) the debtor’s ability to file a petition under a different chapter of this title;
(3) the effect of receiving a discharge of debts under this title; and
(4) the effect of reaffirming a debt, including the debtor’s knowledge of the provisions of section 524(d) of this title [11 USCS § 524(d)].
Outside of remaining calm, the client does not need to do too much in order to to prepare for the meeting of the creditors. Our firm will have most of the materials necessary for the meeting prior to the initial filing and will request other materials from you trustee at the trustee’s request prior to the meeting.
Every bankruptcy petition is riddled with several fact-specific determinations that must be made by your attorney. If you are considering filing for Bankruptcy, contact a Florida Bankruptcy Attorney at +1.786.309.8588.