A Bankruptcy Lawyer in Bryan, TX Discusses Meetings of Creditors
Individuals who are seeking bankruptcy protection tend to fear the possibility of having to go to court. Generally this is not necessary, but a meeting of creditors is. Your bankruptcy lawyer in Bryan, TX will attend the meeting with you, and you should keep in mind that the purpose is largely procedural, rather than an attempt to trick you or grill you.
A bankruptcy lawyer in Bryan, TX on Attendees at the Meeting
Unless a large company or an individual with substantial debts and assets is filing bankruptcy, generally creditors will not attend the meeting. This may seem counter-intuitive, but the purpose is to both to provide creditors with an opportunity to attend if they wish, and to ask questions of the debtor. Present at the meeting will be you, your bankruptcy lawyer in Bryan, TX and the bankruptcy trustee. The meeting of creditors also serves the purpose of enabling the bankruptcy trustee to verify that all your documents are accurate and complete.
While the hearing is generally not held in a courtroom, you will be required to swear under oath that the information you are providing is accurate. You will be asked questions, such as whether the salary you reported is correct. Your bankruptcy lawyer in Bryan, TX will provide you with a more detailed list of possible questions.
The entire proceeding will probably take no more than 15 or 20 minutes. Creditors will likely not be present, as mentioned, since attendance will not prevent the bankruptcy, and, frankly, the money they would expend in attending every meeting would not be cost-effective.
A bankruptcy lawyer in Bryan, TX Can Provide Legal Assistance
If you need assistance with a bankruptcy, or have concerns about the meeting with creditors, a bankruptcy lawyer in Bryan, TX can help. Peterson Law Group will provide you with quality representation. Call us today at 979-703-7014.