Written by Charleston Bankruptcy Attorney, Russell A. DeMott
This is another good video post done by my colleague at Bankruptcy Law Network, Kurt O’Keefe. Kurt is a bankruptcy lawyer in Detroit, but the process he describes is the same here in South Carolina. Kurt discusses the Chapter 7 process from filing the case to the time the case is closed. He also stresses some important points to keep in mind.
You’ll see that he stresses that all creditors must be listed in your bankruptcy and he gives some examples. I explain this to my clients by telling them to list every creditor they have in the Milky Way galaxy. And that’s everyone you owe money to, including even people who say you owe them money when you don’t. We just mark those claims as “disputed.” Listing creditors is even more important in Chapter 13 cases, but I’ll address that in another post.
Kurt also gives a good overview of the bankruptcy hearing, called the 341 hearing or First Meeting of creditors. I hope you find the post helpful.
