Oklahoma Bankruptcy HelpWhat You Should Expect in Tulsa Bankruptcy Court
All bankruptcy petitions are filed in a federal bankruptcy court. And all bankruptcy cases require at least one court appearance by the debtor in that court — such is the case in a Tulsa bankruptcy court.
Court appearances can be intimidating under the best of circumstances. They can be frightening if you do not know what to expect. Here is what you might expect to face during an appearance in bankruptcy court.
The Meeting of Creditors in Bankruptcy Court
In all bankruptcies, creditors are notified of the hearing date, time and location for what is known as the meeting of creditors. This is a meeting all creditors can attend. If you have filed for bankruptcy, you are required to meet with your bankruptcy trustee at this meeting.
You can have your attorney present at this meeting. The trustee and creditors may have questions for you at this meeting. The trustee needs to ensure that your petition is accurate and complete. This will allow the trustee to see if there are any assets from which to pay your creditors or not.
If you and your attorney find that something is missing in your paperwork before the meeting, you can file an amendment before that meeting and call the trustee’s attention to the amendment.
Otherwise, the meeting should be brief. Bring your identification, bankruptcy petition, and any relevant financial papers in your possession. Your attorney can tell you what financial papers you may be required to bring in your particular case.
Typical questions from the trustee may cover anticipated future sources of money, such as possible inheritances, settlement of accident or other tort claims, and employment. The trustee may also ask questions regarding purchases made on your credit cards and where those items are now, as well as how things such as cars and houses were paid for.
Creditors rarely come to these meetings. But they may come to ask about specific purchases or cash advances.
Be calm, answer questions fully and honestly. And if you have questions, make sure to talk to your Tulsa bankruptcy attorney.
The meeting takes place in an informal setting, usually a meeting room as opposed to a courtroom. But an oath is administered to you before you begin answering questions, so your answers have the same force and effect as testimony given in a courtroom.
Reorganizations Require More Meetings
When filing for reorganization, you will probably need to attend court at least three or four times, especially when a judge is reviewing the provisions of your proposed debt repayment plan. This is usually handled in much the same way as the meeting of creditors. If you have questions, seek the help of an expert Tulsa bankruptcy attorney.
Free Bankruptcy Planning: Tulsa Bankruptcy Lawyer
To get the best possible outcome in your bankruptcy case, you will need to set expectations for yourself, and also understand your attorney’s expectations of you.
If you’re ready to file, contact a Tulsa bankruptcy attorney at the Freedom Financial Bankruptcy Lawyers of Tulsa as soon as possible.
To receive your free initial bankruptcy analysis, call the Freedom Financial Bankruptcy Lawyers of Tulsa today at (918) 786-9600.
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