You filed your petition. You spoke with your bankruptcy lawyer and bankruptcy trustee. Now, the time has come for the meeting of creditors, also known as the bankruptcy hearing. The meeting of creditors is the most important part of your bankruptcy process, so make sure to take it seriously.
You’ll have your bankruptcy lawyer in Las Vegas to guide you, but you should also be mindful of these five tips to make your creditors meeting run perfectly.
5 Tips for Your Meeting of Creditors
We already mentioned how lying or committing bankruptcy fraud can cause issues. However, during your meeting of creditors, your bankruptcy trustee will ask you to swear under oath. So, if you do lie during the meeting, you are committing perjury. Being caught in a lie during your bankruptcy hearing can cease your bankruptcy petition and incur fines. Don’t do it.
Besides, during your meeting, your creditors cannot harass or threaten you. They will speak to you cordially through your bankruptcy trustee.
Have Your Documents Ready
You’ll need your social security card and a government-issued photo ID. Your bankruptcy trustee cannot hold the meeting of creditors without these documents. Bankruptcy fraud and identity theft are a concern.
Other documents you need will include deeds of your assets, proof of income sheet and your most recent tax returns. On the night before your meeting of creditors, gather all your documents, so you won’t have to run around looking for them the day of.
Do Not Get Combative
A meeting of creditors should only lasts about 10 minutes. Don’t feel the need to unleash any anger or resentment against your creditors. Under the law, they cannot respond back to you if you speak in such a manner.
The point of the meeting is to never see or hear from them again. Relax and stay calm. Any argument will only prolong the meeting, and the trustee could potentially stop the meeting if it gets out of hand.
Speak to Your Lawyer
If you feel emotional or stressed out, discuss it privately with your Las Vegas bankruptcy lawyer. You hired them to guide you through the process. If you’re unsure how to answer a bankruptcy trustee’s question, ask your lawyer how you should respond.
Leave with a New Life
When the meeting of creditors is over, you will leave. During the time after the meeting, continue creating money-saving plans and find financial counseling. The time spent waiting after the meeting is reserved for any adversary hearings against your petition. They will also check for fraud on your part.
If you answered truthfully and did everything you were told, you will receive a Notice of Discharge from the court. Then, you can begin a new life debt free.
Need a Las Vegas Bankruptcy Attorney?
At Luh and Associates Attorneys at Law, our expert bankruptcy lawyers in Las Vegas will help with any debt relief and debt consolidation. Clear your bankruptcy today with Luh and Associates.