Chapter 7 Bankruptcy Lawyer Plano, TX
One of the most significant benefits of working with a Chapter 7 bankruptcy lawyer Plano, TX residents trust is that you can be sure that your bankruptcy petition and your case preparation are handled with care. While it’s true that filing bankruptcy under Chapter 7 of the Bankruptcy Code is less complex than filing under Chapter 13, the process is still complicated enough and consequential enough that most filers benefit from professional guidance as they prepare their cases.
For example, are you aware of the fact that if you file for Chapter 7 bankruptcy, you’ll be required to attend a meeting presided over by the trustee assigned to your case? Are you aware that your creditors are invited to attend this meeting, if they wish? The “341 meeting of creditors” can be an intimidating part of the Chapter 7 bankruptcy filing process. However, our Plano, TX Chapter 7 bankruptcy lawyer team will ensure that you’re properly prepared for the meeting so that it proceeds as successfully as possible.
Meeting of Creditors – Expectations
In most cases, the meeting of creditors is straightforward. Unless a filer has an unusual type or amount of debt, creditors will decline the invitation to attend the meeting. When you arrive, you’ll need to swear an oath that you’ll provide accurate and complete information in response to the trustee’s questions. You’ll need to respect that oath, as lying to a trustee could land you in serious legal trouble.
Once you’re sworn in, you’ll be asked questions about your finances. You may be asked about your debts, income, expenses, and property. You may be asked to clarify or expand upon answers provided in the bankruptcy paperwork you provided to the court. As long as you’re willing to speak clearly and truthfully, you should have no problem navigating this meeting successfully. We’ll prepare you for it so that you can anticipate any potentially tricky scenarios. The meeting will likely last between 30-60 minutes. You’ll need to dress semi-professionally, be on time, and treat the trustee assigned to your case with respect.
Keep in mind that your case trustee is empowered to sell any of your assets that aren’t classified as exempt. You’ll want to make a good impression, as you can never quite know what may or may not inspire a trustee to sell a non-exempt asset or to choose to leave it alone.
Legal Assistance Is Available
The experienced Texas legal team at The Allmand Law Firm, PLLC takes great pride in helping Chapter 7 filers seek a fresh financial start. We understand how important your property and your assets are to you and we’ll work hard to ensure that you get to keep as much of your property as is legally possible. We’ll also ensure that you feel prepared in advance of your meeting of creditors so that you have one less thing to stress about during this challenging time. Please schedule a consultation with our Plano, TX Chapter 7 bankruptcy lawyer team today; we look forward to working with you.