My question involves bankruptcy in the state of: Florida
Can anybody tell me if any of the creditors actually show up? My creditors are B of A, Bank One and Chase....I was curious if they send someone...
My question involves bankruptcy in the state of: Florida
Can anybody tell me if any of the creditors actually show up? My creditors are B of A, Bank One and Chase....I was curious if they send someone...
Most likely not, good luck God Bless
Creditors *almost never* show up at the 341 meeting in a Chapter 7 bankruptcy.
More creditors *might* attend the 341 meeting in a Chapter 13 bankruptcy (to ask questions) if the court conducts the confirmation hearing immediately after the 341 meeting. Courts in some areas do. The confirmation hearing is when the court decides to approve or reject your repayment plan. If the confirmation hearing isn't held immediately after the 341 meeting, *most* creditors do not attend the 341 meeting.
You posted this in the Chapter 13 bk forum. Therefore, I posted the above information for you.
Thank you...its for a chapter 13 per my lawyer. I was curious because I heard from doing web searches that most of the time its less than 10 minutes long, and the BIG creditors "rarely" show up.
You're welcome. It's true they *rarely* do show unless possibly, as indicated previously, the confirmation hearing is held right after the 341 meeting - then there is more of a chance they *might.* It isn't always held then though - depends on the court. (where located)
I don't know when the confirmation hearing is held where you are - you would have to verify with your lawyer or the court.
Just one last question please :-) Do I also have to go to the confirmation hearing as well?
I am out of Tampa, and from what I have been told, the confirmation hearing is not the same day as the 341.
I'm not sure about where you live - every area has different rules. You would have to ask your lawyer (or the court). In many places, if the trustee supports your plan and your creditors have no objections, you don't have to appear at the confirmation hearing, and the court will probably approve your proposal as a matter of course.
If the trustee or a creditor objects, you & your lawyer have to attend. Your lawyer will need try to convince the judge that the objections have no merit or tries to negotiate with your objecting creditors. If the court still upholds the objection, you will probably have the opportunity to file a modified plan & then schedule another confirmation hearing. On a rare occasion the judge may decide that the objection is so serious & that they believe a modified plan would be futile & orders that the case be dismissed.