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Arifa Akter
Apr 12, 2022
In General Discussions
After the many-page bankruptcy petition is prepared, the client(s) then come in to sign the petition. Then, the petition is filed with the Federal Bankruptcy Court (located at Central Islip here on Long Island) and this filing is normally done electronically- that is, it is uploaded into the Court's Server. Upon filing, the client's case is assigned a case number, and, importantly, a trustee is appointed, and this trustee is the person who oversees the bankruptcy case. Approximately 6 weeks after the petition is filed, the client, and his or her attorney, meet with the trustee at the Court- not in a courtroom. The client is sworn in by raising his or her right hand and swearing to tell the truth. The attorney is sitting right next to his clients, and he identifies him or herself for the record. The purpose of the meeting is for the trustee to fact-gather- to see Telephone Number List if the petition is accurate and to see if everything is good- that is- in the case of chapter 7- is there anything for the trustee to liquidate to pay off the client's debts- perhaps the client owns something that can be sold. For example, in New York, if a client owns a car worth 8000 dollars- then, in that case, the trustee could sell that car to pay off some of the client's debts- because a client can only protect up to 2,400 dollars in his or her auto. There are other important exemptions such as those that protect a client's home. Generally, the meeting of creditors takes no more than ten minutes- or less- although, in a Chapter 13 case- where the client pays back some or all of his debts over three or five years, the meeting can, and often does, take a bit longer.
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Arifa Akter
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