Once you have filed for bankruptcy, a neutral trustee will be appointed to supervise the dispersion of funds to your creditors.
If you file chapter 7, the first order of business that falls to the trustee is to go over your petition. He will look at all the documentation that you and your Douglas County bankruptcy attorney have submitted, to make sure all the information is indeed accurate. You will then be called to appear before the trustee at a 341 meeting, and answer any questions he may have. Your creditors are also allowed to be present at this time, and ask questions of their own. Unless creditors have good reason to suspect that you are hiding certain assets, they will probably not appear.
The trustee is also responsible for selling off any nonexempt property, or other assets, to pay your creditors.
When you’re faced with bankruptcy, do yourself a favor and contact an experienced Douglas County bankruptcy attorney from Parker Lawyers. You can call 303-841-9525.
