What to Expect in a Bankruptcy Hearing
Many people find themselves having to file bankruptcy due to a loss of available funds while owing a lot of money to one or more creditors. Most will be anxious about having to face their creditors in open court. However, a bankruptcy hearing is typically not an overly dramatic experience such as what is depicted in television shows and movies according to a seasoned bankruptcy attorney Baldwin County located residents already trust for honest legal services. Continue reading to learn what to expect in a bankruptcy hearing to set your concerns and worries to rest.
What Happens After Someone Files for Bankruptcy Through the Courts?
After filing a bankruptcy claim, look for the arrival of an official court notice that will provide the specific initial details. This notice will give the claimant the time and the location of this meeting with your creditors that is also called a 341 hearing. A bankruptcy trustee will be the one to preside over this initial meeting rather than a judge. This bankruptcy hearing may be held in a specific meeting room, or the hearing might be held in a regular courtroom without all the traditional courtroom expectations such as a judge presiding over the hearing.
Some Planning Measures to Take Before Your Bankruptcy Hearing
A knowledgeable Alabama bankruptcy lawyer recommends taking some fast preparation steps to ensure that your hearing goes smoothly. Inquire about the available parking locations including whether the parking is free or if coins are needed for a parking meter. Be prepared to walk through a metal detector as well to help ensure that you will arrive at the appropriate meeting place on time.
Who Will Be Present at the Bankruptcy Hearing?
Expect to see other people waiting to have their bankruptcy hearings in the room. This hearing is often called a meeting of creditors, but creditors typically are not at the hearing. A Trustee or Bankruptcy Administer will usually be the one asking the questions during the hearing. If a creditor does show for the meeting, the creditor may ask some questions too cautions AL Mobile attorneys familiar with these proceedings.
What Will Happen During This Bankruptcy Hearing?
Before the start of your meeting, the Trustee will verify your identity through the appropriate identification credentials. This will be a current photo driver’s license or photo ID. Afterwards, you will be placed under oath either as a couple or as an individual before the actual proceedings begin. The Trustee will review your information presented in your submitted petition. You may be asked to verify that all information is correct and/or may be asked some additional questions. If the court Trustee asks for additional documents or information not on hand, it is crucial to consult with your attorney ASAP after the hearing to ensure the documents are submitted.
Differences Between a Chapter 7 Bankruptcy & a Chapter 13
A Chapter 7 bankruptcy case is usually reserved for those that meet lower-income levels, and this plan does not require a repayment plan. Some debt may be eliminated when filing under a bankruptcy chapter 7 Mobile AL experts explain. Under a Chapter 13 bankruptcy, a portion of your debt is court-ordered in a repayment plan. Please Note: During COVID, the attorney fees and court costs are included in the Chapter 13 plan. No upfront costs are required when filing Chapter 13 bankruptcy Mobile AL according to the Loris Law Firm attorneys. Learn more about Mobile Alabama debt consolidation by contacting Loris Law Firm at https://lorislawoffice.com online anytime 24/7.