Important Bankruptcy Topics: Creditors
Many of our Georgian friends and neighbors contact our office on a daily basis to discuss the possibility of filing for bankruptcy. Filing a bankruptcy case can be an excellent way for an individual or a family to get their debts under control and improve both their financial present and future. One of the most critical aspects of a successful bankruptcy case is the correct approach to working with the bankruptcy court and the person’s creditors.
What is a Creditor?
A creditor is any person or company that is owed money by the person filing the bankruptcy case (called the debtor). All creditors need to be informed that the debtor is filing for bankruptcy.
How do I inform my Creditors that I am filing for bankruptcy?
When a debtor files a bankruptcy case, there are many forms that must be completed for this process. One of the most important forms the debtor must complete is the creditor mailing list (which is sometimes called the creditor mailing matrix). This form is critical to the success of the bankruptcy case because the court will use the information provided on it to provide the creditors with the required official notices of the case, such as the date of the case filing, the time and date of the 341 meeting of creditors, and the dates and times of other necessary court hearings.
What happens if I make a mistake on my creditor mailing list?
If you make a mistake on your creditor mailing list and do not correct it as soon as possible, your case may suffer serious repercussions. For example, if you fail to list a creditor at all on your list, then the debt that you owe that creditor could possibly not be discharged and you will still be required to pay it after your bankruptcy case ends. If you failed to list this creditor on purpose, you may be found guilty of bankruptcy fraud.
Additionally, if you list a creditor but do not include the creditor’s contact information, or provide the wrong contact information, the creditor may be able to file an objection to your discharge based upon lack of notice.
If you have already filed your creditor mailing list with the court and you are afraid that you made a mistake, contact our office as soon as possible to have an experienced attorney review your paperwork and advise you on what steps should be taken to ensure your case is successful.
What happens if I don’t make a mistake on my creditor mailing list?
Once the mailing list is complete, the bankruptcy trustee will schedule the 341 meeting of creditors. The purpose of this meeting is to allow both the trustee and any creditors who decide to attend to review your bankruptcy paperwork and ask you questions.
Do I have to go to the 341 meeting?
Yes, you need to go to the 341 meeting since it is very important to the successful completion of your bankruptcy case. You may bring your attorney with you which many people choose to do because it makes them more comfortable.
What should I bring to the 341 meeting?
You should bring your driver’s license or other proof of your identity and proof of your social security number. Individual trustees have their own requirements. It is important to speak with your bankruptcy attorney about your 341 meeting.
Contact our office at 404-913-1529 to speak to an experience bankruptcy attorney about your case and to schedule your first meeting. We look forward to speaking with you!