Understandably so, having to declare bankruptcy may not be your proudest moment. But there comes a time when you can no longer ignore your alarming financial issues. Rather, you must hold yourself accountable, face your creditors head-on, and take the necessary steps to rectify your current financial situation. The first step towards this may be attending a hearing. Read on to discover whether your bankruptcy case requires a court appearance and how a seasoned Louisville, Kentucky consumer bankruptcy lawyer at Schwartz Bankruptcy Law Center can serve as your legal representative.

Does my bankruptcy case entail a court appearance?

Technically, yes, your Chapter 7 or Chapter 13 bankruptcy case may require your appearance at a meeting of creditors, otherwise known as a 341(a) meeting. However, you must not view it so much as a court appearance, since it is not conducted in the presence of a judge. Rather, it is handled by the bankruptcy trustee assigned to your case. And while your creditors may attend this meeting, it is not for any negative reason such as to testify against you.

Generally speaking, you may be required to attend this meeting within 21 to 50 days from the date on which you filed your bankruptcy petition. But you may rest assured knowing this meeting typically can be completed within 10 to 15 minutes.

What might the court appearance help me with?

Essentially, your 341(a) meeting will have your trustee review your bankruptcy petition and ultimately confirm your need to undergo bankruptcy proceedings. Specifically with a Chapter 13 bankruptcy petition, your trustee will review your repayment schedule and confirm whether it is manageable. Mainly, your trustee will ask you questions about your conduct, assets, liabilities, financial status, etc. With this, you will be sworn in before having to answer the following questions:

  • Have you previously filed for bankruptcy?
  • Have you correctly identified your assets and listed your creditors in all your bankruptcy-related documents?
  • Have you read the petition, schedules, statements, and other bankruptcy-related documents before signing them?
  • Have you familiarized yourself with the information contained in the petition, schedules, statements, and other bankruptcy-related documents?
  • Have you confirmed, to the best of your knowledge, that the information contained in the petition, schedules, statements, and other bankruptcy-related documents is correct?

Overall, the meaning behind your 341 meeting is to allow your trustee to ask you questions that ensure your understanding of the process you are about to move forward with. In other words, your attendance at this meeting will help you better prepare for what’s to come.

It is worth mentioning that you are allowed to have your lawyer accompany you at this meeting. Therefore, we believe that legal representation from a competent Lousiville, Kentucky consumer bankruptcy lawyer is the best fit for you and your legal proceedings. So please get in touch with Schwartz Bankruptcy Law Center as soon as you can.