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No, however, you are required to attend a meeting called a Meeting of Creditors. The Meeting of Creditors is held remotely, by Zoom, and is presided over by the Trustee. The meeting is recorded and you will be administered the oath of office. That means you promise to testify truthfully under penalty of perjury.

The individual who files for bankruptcy and owes money is called the Debtor. The person who administers the bankruptcy and presides over the Meeting of Creditors is called the Trustee. The person who is owed the money is called the Creditor.

Bankruptcy exemptions are a set of specific assets such as a car, home, retirement accounts, furniture that are protected when an individual files bankruptcy. If the asset falls within the exemption, the asset is fully protected and cannot be taken by creditors or the bankruptcy trustee.

Bankruptcy helps people who can no longer pay their debts get a fresh start. Once a bankruptcy has been filed with the court, the individual is afforded certain rights, including a stop on all collection. This is called the Automatic Stay and goes into effect the moment a bankruptcy is filed. It is powerful and  … Read More

Consumer bankruptcy is a legal process that helps individuals eliminate or repay their debts under the protection of the federal bankruptcy court. Most consumers file under either Chapter 7 for a debt wipe-out, or Chapter 13 (reorganization) to repay a portion of debts over three to five years. Filing personal bankruptcy takes careful preparation and  … Read More