Should a creditor attend the meeting of creditors?

Should a creditor attend the meeting of creditors?Many creditors do not know whether or not attending the 341 meeting or “meeting of creditors” would be beneficial to them. The answer largely depends on the particular circumstances of the debt. However, as a general rule, attending this meeting does not provide a creditor a large benefit. Due to the time constraints, questioning of the debtor by creditors is very limited. If you wish to discover detailed information about the debtor, your better option is to seek court approval to take the debtor’s deposition under Bankruptcy Rules 2004.

A few examples of questions the trustee typically asks the debtor at the meeting of creditors are as follows:

•Have you reviewed your bankruptcy pleadings and is everything true and correct?

•Did you list everything that you own and everything that you owe?

•Do you expect any kind of windfall (like an inheritance) in the near future?

•Do you have any claims against anyone (like a lawsuit)?

•Where do you live and where do you work?

•Do you own any real property other than your home?

As you can see, these types of questions are likely not the type of information you are seeking. If you need assistance obtaining court approval to conduct a deposition of the debtor, contact an attorney at Windtberg & Zdancewicz, PLC, to assist you.

The attorneys at Windtberg & Zdancewicz, PLC, provide clients with experienced legal representation.  We are experienced in creditor’s rights including garnishments, charging orders, attachment, property execution, trustee’s sales, foreclosures, judgments, judgment collection, domestication of foreign judgments, and creditor’s issues in bankruptcy cases.  If you need assistance, or are interested in learning more, please contact us at (480) 584-5660.


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