The 4th Step in Becoming Debt Free in 2015: Your Time on Stage - Westgate Law

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The 4th Step in Becoming Debt Free in 2015: Your Time on Stage

Once your bankruptcy case is filed, you’ll be surprised how quickly and smoothly the process moves along. Remember that millions have filed bankruptcy before you and the process has been fine tuned into a streamlined process. Tens of thousands of bankruptcy cases are handled per month in each state across the nation.

I approach bankruptcy cases with the desire to be as thorough as possible. Being extremely thorough right from the beginning means that we’re able to file detailed information with the bankruptcy court; which, in turn, will mean a smoother bankruptcy process. It also drastically decreases the possibility for surprises; which are never a good thing during a bankruptcy case.

Once you’ve filed for bankruptcy, you’ll hear mention of the Meeting of Creditors (if you haven’t already). This is the main event in our bankruptcy case. To most, the name makes it sound like a “big deal,” but in reality, it’s simply a meeting in a room where you and your bankruptcy attorney meet with your bankruptcy trustee and any creditors that choose to appear. (Most do not choose to appear). Most find that the Meeting of the Creditors lasts 5 minutes or less. The purpose of the meeting is to provide your creditors with the chance to come in and ask any questions they have related to the bankruptcy. Most don’t choose to go to the trouble to appear for this opportunity. In most cases, creditors who show up will fall into one of two categories: customers of self-employed debtors who fear the loss of their payment or ex-spouses who are angry and trying to create problems.

In most cases, if a creditor does show up at the Meeting of the Creditors, they won’t really know why they’re there and they won’t be prepared with any questions. Your bankruptcy attorney will be with you at the meeting in case your bankruptcy holds a few surprises that defy statistics and will be able to guide you through any strange happenings.

Most find that their “fear” or even just their slight case of nerves regarding the Meeting of the Creditors was completely unnecessary. They leave wondering why they were so worried about such an inconsequential and momentary part of the process. For the majority of filers, completing the Meeting of the Creditors means your bankruptcy will be complete within a couple months. Just consider this the 4th step in becoming debt free in 2015. It’s your time on stage (even though the “audience” is small or non-existent in most cases).

Watch for more info coming soon on what happens after the Meeting of the Creditors and when you can expect your Discharge Order. To discuss how to obtain a discharge of your debts through California bankruptcy contact an attorney at Westgate Law.

About the Author

Justin Harelik

Justin has a singular goal: to get people out of financial distress and move them to financial stability and prosperity. He does this by combining 15 years of in-depth experience in bankruptcy, credit management, debt negotiation and student loan modifications, and he does it with both English and Spanish-speaking clients.

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