San Diego Bankruptcy Lawyer | Chapter 7 Meeting of Creditors

In a San Diego Chapter 7 bankruptcy case you will be required to attend a meeting of creditors nearly always held at the United States Trustee’s hearing room located in the located in the Emerald Plaza at 402 West Broadway, Suite 660, San Diego, CA  92101.  The meeting of creditors is held pursuant to Section 341(a) of the bankruptcy code and is a requirement in order for the Court to consider the discharge of your debts. 

The meeting is conducted by a bankruptcy court appointed trustee and whose duties are as  follows:  1) review your bankruptcy Petition, Schedules and Statements and conduct an examination under oath to determine if any non-exempt assets are available for liquidation to address the claims of your creditors known as the bankruptcy estate;  2) to review your Schedules of income and expense and means (Schedules I and J and B22) and conduct an examination under oath thereon to verify your income and expenses; 3) to determine if any net disposable income exists to fund a Chapter 13 reorganization, and  to refer any indicators of criminal conduct to the United States Trustee/Attorney for further investigation; and to conduct an examination to determine if there is a basis and cause to object to the granting of a discharge of debts.  Creditors are also invited to appear.  Creditors may only ask questions related to the scope and nature of assets.  (Click on the following links for  341_Meeting_Instructions.)

1. This meeting does not conclude your bankruptcy;

2. There is no requirement of your creditors to attend this meeting;

3. The Trustee is not a Judge

You will be testifying under penalty of perjury. The penalties for perjury are, generally, five (5) years

imprisonment and/or $500,000.00, in fines.

You will be expected to have fully read and reviewed your Petition, Schedules and Statements, and you will be asked, under oath, to verify you have done so. This applies also to joint debtors, i.e., each spouse must have read all documents filed with the Court, not simply one who directed the other to sign.

You must ensure you have disclosed all of your interests in assets. An asset is defined as anything of any value that you have an interest therein. It can be something you presently have possession of or control over, something you are entitled to in the future, or a contingency, i.e., something you have an arguable right or claim to now that may or may not materialize in the future.

The trustee today will rely on your representations to make statutory decisions in your case.  You will also be required to complete a Questionnaire, again under penalty of perjury, for presentation to the Trustee at the commencement of your examination. You should review these questions carefully and ensure your attorney has signed the Questionnaire verifying your understanding of all questions.

If you are unsure of how to respond to any inquiry you should communicate that to the Trustee, who will allow you sufficient time to confer with your counsel before responding.

Your responses will be recorded.  You should be present at least one hour before your scheduled meeting is to to be conducted.