A bankruptcy case is initiated by filing a petition for bankruptcy in the office of the Clerk of the Bankruptcy Court. The petition lists the name, address and social security number of the debtor, states the necessary facts to show that the case has been filed in the right court, and alleges that the debtor is entitled to relief under the Bankruptcy Code, and specifically identifies the Chapter of the Bankruptcy Code under which relief is sought. You hear people refer to these Chapters as Chapter 7, 13, etc.
The petition must be signed by the debtor. The official form lets the attorney for the debtor sign the petition as long as the client has signed an oath. Many districts allow the filing to be by electronic filing. Be sure to speak with your bankruptcy attorney regarding your options for filing and what the various chapters mean. Also, discuss with your attorney what the automatic stay is and how it affects your case. In short, it stays creditor actions.
Section 341 of the Bankruptcy Code requires that a meeting of creditors of each bankruptcy estate be noticed and held “within a reasonable time” after the case is commenced. Reasonable has been defined as 20 to 40 days after the commencement of the case for voluntary cases. Any creditor may attend, but no creditor must attend. At the meeting, the debtor must appear and submit to questioning under oath by the bankruptcy trustee and by any creditors present. This is usually held in a meeting room. This meeting can last from 15 minutes to an hour. The trustee’s role at the meeting is to see if there are any unlisted assets and whether there are any grounds that exist for an objection to the issuance of a discharge in bankruptcy of the debtor’s debt. Be sure to also ask your attorney about what you will need for this meeting, where the meeting will take place, the questions you will be asked, and come prepared.
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