First Meeting of Creditors

Unlike business bankruptcy cases where you could easily spend hours in court, a Chapter 7 bankruptcy case is usually much simpler. While your lawyer can go to court for you most of the time, there is one time that you must be present and that is during the First Meeting of Creditors.

The First Meeting of Creditors is held within 30 to 40 days after you file for Chapter 7 bankruptcy. In addition to you and your lawyer, a court-appointed trustee will be present to lead the meeting. All of your creditors will be informed of the meeting, but they do not have to attend. In fact, most creditors do not send representatives, and if they do, the representatives will most likely just listen or have a few simple questions for you and your lawyer to answer.

In most cases, the First Meeting of Creditors is brief. However, it is important to be prepared for the official meeting. You could be asked about personal matters including your assets, debts, bankruptcy papers, and other related matters. Due to the fact that you may be asked questions and need to be ready, it is advised that you hire a Chicago bankruptcy lawyer who can help you get prepared. To enlist legal help, contact a Chicago Chapter 7 bankruptcy attorney from our firm today!