A few years ago I did a seminar with Riverside Chapter 7 Bankruptcy Trustee Charles Daff and he gave out the following information on “ Bankruptcy Intake Questions and Preparing Your Clients for Chapter 7 Meeting of Creditors”. I write this post to relay the information Trustee Daff gave as it provides a good frame work to learn from in preparing your clients for Mr. Daff and the other Chapter 7 Trustees.
Bankruptcy Code Sections 526, 527 and 528 (11 U.S.C. 526, 527 & 528)
The attorney for the debtor is a Debt Relief Agency to make specific disclosures in writing to the debtor and the enforcement of sections for failure to provide services or disclosures. The disclosures are for Credit Counseling Certificate and the Financial Management Certificate.
Bankruptcy Code Section 521 (11 U.S.C. Section 521)
The debtor shall file a list of creditors, schedules of assets and liabilities, schedule of current income and expenses and statement of affairs. The debtor shall also file pay advices or proof of income within 60 days of petition, statement of intention.
The debtor shall cooperate with the trustee as necessary to enable the trustee to preform trustee’s duties under this title. This includes surrendering to the trustee all property of the estate and any recorded information, including books and records, relating to the property of the estate.
The debtor shall file with the trustee a tax return or a tax transcript 7 days prior to the scheduled 341(a) hearing.
Bankruptcy Code Sections 341, 342 and 343
The debtor shall appear and submit to examination under oath at the meeting of creditors. Creditors, Trustee and the United States Trustee may examine the debtor. The notice of hearing contains specific disclosures, information and deadlines provided by the Court Clerk.
Review the provisions of the Bankruptcy Code which deal with your clients and the their duties and responsibilities before the meeting of creditors to refresh your memory and to ensure you are providing the best legal information to them.