Most creditors do not attend the creditors' meeting.
As a creditor not attending a creditors' meeting, you forfeit the right to ask at the meeting some basic questions of the debtor, which meeting is a low cost forum available for that purpose.
A creditor can review all schedules and forms, and can object, if needed, to the reorganization plan, and if additional detailed questions are needed, can take a deposition of the debtor, which is somewhat rare in chapter 13.
If there are some unusual facts involved, or large amounts of assets or debts involved, you may wish to confer with an experienced bankruptcy attorney that represents creditors.
General legal advice is offered for educational purposes only. A consultation with a qualified attorney is required to determine specific legal advice as to your situation and applicable law. We are a debt relief agency and we help people file for relief under the bankruptcy laws.
I agree. You don't have to attend the meeting, but be very aware of your deadlines for objecting to the proposed plan and for filing your proof of claim (with all required documentation attached!) with the court.
Your appearance or nonappearance at the creditor's meeting means nothing. The reason a creditor might appear would be to ask a few brief questions of the debtor & since in most instances, the creditor knows very well what the debtor will say, the creditor doesn't bother to appear.
You will want to make sure that you comply with the deadline requirements contained in the B9I notice you received from the Bankruptcy Court to determine your rights.
No, you don't forfeit any additional rights you might have. If you are serious about objecting to a plan, it's obviously a good idea to go. It's easier and cheaper to bring up your concerns directly to the trustee than to have to engage in later motion practice.
This is AVVO, a place for users to obtain general legal information to general legal questions. I am glad to help you in any way I can, within those limits. I wish to make clear I am only communicating with you for the sole purpose of exchanging such general information, and nothing more. It is not legal advice, which I can not provide because among other reasons I know few of the necessary details of your situation. I do not purport to represent you in any way, shape or form. Of course, if you would like to seek out my services, and if you are a NY resident, I will probably not put up very much resistance but representation would still necessitate a signed retainer agreement between yourself and I. Thank you.