I've always said that the "Meeting of Creditors" is a real misnomer. It's highly unlikely that a creditor will appear or ask you questions but in the even that one does, the questioning won't deviate too far from your use of that extension of credit (when, why, how much) and what assets you have, how you valued them, etc. The meeting will, more likely, just be you and the appointed Trustee who will examine you under oath as to the veracity of your petition and schedules and supporting documentation. No surprises for the honest debtor.
Advice on this forum is for informational purposes only and should never be mistaken as a substitute for legal advice. If you are in need of legal advice, you should consult local legal counsel.
The questions that the bankruptcy trustee will ask you are relatively straightforward and directed at two general areas: (1) whether the petition, schedules and statements are true, complete and correct, and (2) whether you have any nonexempt assets that the trustee can administer. Using your favorite search engine you can actually find the general list of questions. You can find the general list and the reasons I can't post my list are that the questions vary by jurisdiction and by trustee, and also if your trustee goes "off script", as they do, you will feel that I have not given you a complete answer. Read your petition over completely before your meeting so that you are fully familiar with the facts and so that you can anticipate any issues.
My office represents consumer debtors in chapter 7 and chapter 13 bankruptcies in Massachusetts and New Hampshire. However, this is federal law applicable across the USA.
Law Offices of
Andrew D. Myers
North Andover, MA — Derry, NH
It is very unlikely that there will be any creditors at the "Creditors meeting". The trustee will have some questions he asks everyone. If you do not have an attorney I suggest attending a creditor meeting before yours occurs, you will see how they go and will be less stressed.
If there is something unique in your case the trustee might have a question. If you do not know the answer the trustee will give you time to get the answer or provide whatever he is asking, the meeting will be continued to a later date.
First of all, you want to be very honest with all answers to all questions asked by the Trustee. Typically, creditors do not appear at the hearing. In my experience, the only creditors that go to the hearing are people you personally know and owe money to and were listed in your bankruptcy petition (ex-spouse, ex-boyfriend, etc.). The questions you can expect are if you currently own or have ever owned real estate, if you have any potential personal injury claims, if you have sold, given away or transfered any property in the last year or last 4 years, if anyone owes you any money (including tax refunds), you may be asked about particular living expenses listed in Schedule J if they appear unusual or out of the ordinary, did you list all of your assets and liabilities, is everything true and accurate to the best of your knowledge, if you repaid any loans or money to friends, family memebers. Some Trustees have particular questions they like to ask, however you should not expect much more that what is listed above. Again, it is very important that you answer truthfully and honestly.