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Questions to Expect During a Chapter 7 Bankruptcy in New York

If you, like many Americans, are struggling with large amounts of debt, it’s perfectly natural to feel overwhelmed and pessimistic about your financial future. However, it’s important to recognize that you are not alone in this stressful situation, especially as the pandemic has amplified financial anxiety for many individuals, families, and businesses. As you prepare to file for Chapter 7 bankruptcy relief in New York, here are some of the questions you may be asked so you can work with your bankruptcy attorney to prepare for a successful hearing.

The Purpose of the Meeting of Creditors

First, it’s important to understand the purpose of this hearing. Before the court can discharge your debt, a bankruptcy trustee must examine you under oath at a hearing known as the meeting of creditors. This meeting allows the bankruptcy trustee, along with any interested creditors, to determine whether you have filed for bankruptcy in good faith. They want to make sure you are not lying on your bankruptcy petition or abusing the process. These hearings typically do not last very long (literally a few minutes) and creditors rarely appear.

Common Questions the Bankruptcy Trustee May Ask You

After you’ve been sworn in, the bankruptcy trustee will begin by asking you to verify the information included in your bankruptcy papers. Common questions may include:

  • Is all of the information in your bankruptcy petition true and correct to the best of your knowledge?
  • Have you disclosed all of your assets?
  • Have you listed all of your creditors?
  • Is this your first time filing for bankruptcy?
  • Have you reviewed your bankruptcy petition before you filed it with the court?
  • Has anything changed since filing your bankruptcy?
  • How did you calculate the value of your assets?

Of course, there may be other questions asked of you during the meeting of creditors. The best way to ensure the process moves forward smoothly and efficiently is to prepare for the hearing with a trusted and compassionate New York bankruptcy attorney.

Helping You Obtain a Fresh Financial Start

Whether you are just beginning to explore your debt relief options or you are ready to move forward with the Chapter 7 bankruptcy filing process, reach out to a friendly and qualified bankruptcy attorney who can support you every step of the way. Your attorney will motivate you to take control of your financial situation and move forward into the brighter future you deserve.


Call Grady BK, PLLC, today at (315) 299-9005 to discuss your debt relief options with a skilled and compassionate New York bankruptcy attorney.