How To Make Sure Your Meeting With The Creditors Is Successful

About Me
Recovering from a Business Failure

I’ve always admired entrepreneurs. Because of the financial risks they take, I think they are courageous people. Due to my timid nature, I never imagined I’d be one myself. But, after leaving a successful career in accounting a few years ago, I decided to launch my own home based business. So far, I’ve enjoyed success in this amazingly rewarding venture. Sadly, many entrepreneurs don’t experience the same type of success I’ve found. If they operate sole proprietorship or partnerships, their personal assets are often at risk when their business interests fail. On this blog, you will discover how a bankruptcy attorney can help a business owner who can’t pay his or her business debts.


How To Make Sure Your Meeting With The Creditors Is Successful

24 October 2018
 Categories: , Blog

You might think that filing for bankruptcy is challenging. However, if you do not own any assets, a no asset bankruptcy can be very easy and straightforward. However, one aspect of a no asset bankruptcy that you will want to go smoothly is the meeting of creditors. This is the most important part of your bankruptcy process. 

Beware of Security

Locate the courthouse before the meeting. You do not want to be late for the meeting because you could not find it. Also, keep in mind that you will need to find a place to park. You will have to go through security, so do not bring any weapons or anything that could be perceived as a weapon, such as a box cutter. 

Don't Lie

Do not lie when you are participating in a meeting with your creditors. Committing bankruptcy fraud can cause serious legal problems for you. If you lie under oath, you are committing perjury. Your lies can lead to an end to the bankruptcy proceedings and you will have to pay fines. Provide as many relevant details as possible because you never know what will help your case. For example, your house might be worth more than expected because it needs a lot of maintenance.

Be Friendly

Your creditors are required to speak to you in a cordial manner. Therefore, there is no reason for you to be combative. They cannot respond to you if you lash out at them in anger. If you argue, this will simply prolong the meeting with the creditors. If you feel uncomfortable with the idea of a meeting with your creditors, make sure to hire a bankruptcy attorney who can assist you with the process. Also, if you are not sure how you should respond to a question, you should consult with your bankruptcy attorney. 

Don't Bring Your Cell Phone

Do not bring your cell phone in the courtroom. If you accidentally bring your cell phone with you, there will usually be a place where you can store your cell phone in a box. Instead, make sure to bring your driver's license and a social security card to verify your identity. 

Make Sure to Attend

You may discover that several of the creditors do not show up. However, it is still important to attend your meeting with the creditors. After it is over, you will be on the road to financial recovery.

 Contact a chapter 7 bankruptcy filing service for more help.