Being in a tough financial situation creates a lot of stress for anyone and having to deal with creditors when there is no money available to meet the payments can be disheartening. For many it leaves them with no choice but to claim bankruptcy. This in itself can be stressful and confusing, and it is always a good choice to use the services of an experienced Dayton OH bankruptcy attorney to assist with this form of debt relief.
There are many different forms and papers that have to be filed for the bankruptcy and that applies to both a chapter 7 and chapter 13 bankruptcy. There will also be meetings and one of these will be the chapter 7 bankruptcy meeting for creditors, if this is the form of bankruptcy you are entering into.
This is a mandatory meeting that you will need to attend. Your creditors also have the option of attending this meeting. During this time both the creditors and the bankruptcy trustee will have the chance to ask your questions concerning your finances and any questions pertaining to the documents that you filed. You must answer truthfully as you will be under oath but the meeting is conducted by a bankruptcy trustee and not a judge. It is usually a short meeting and if you are using legal counsel and have filed your papers properly you shouldn’t worry about this meeting. In many cases the creditors don’t even bother to attend, and the only one that you will be answering questions for is the bankruptcy trustee. This is an open meeting and there may be others individuals there waiting for their hearing to be heard.