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GENERAL INFORMATION FOR INDIVIDUAL CHAPTER 7 DEBTOR
(S)
The Purpose of the First Meeting of Credits is to allow creditors and the
trustee an opportunity to ask you questions regarding your assets, liabilities
and financial affairs. It is the responsibility of the trustee to liquidate all
of your non-exempt assets and to distribute the proceeds to creditors. All
information and documentation regarding your assets and liabilities must be made
available to the trustee.
You should bring the following papers with you to the Meeting of
Creditors:
1. Motor vehicle titles and any other certificates of title or photo copies
of certificates of title retained by secured creditors;
2. Automobile Insurance policies;
3. Bank books, checks registers, bank statements, stock certificates and
bonds;
Statements from every creditor (including mortgage and auto loan lenders)
showing name, address, account number and balance;
Name and address of Lessors and Lessees of any real or personal property;
6. Copies of recorded real estate mortgages, deeds, or land
contracts;
7. Security agreements, notes, financing statements, sale agreements or photo
copies of such agreements;
8. Copies of Income tax returns (the latest federal, state and city return
for 2 years);
9. Insurance policies on your life and the lives of minor children;
10. Current real property tax statements
11. Any appraisal of assets of the estate;
12. Cancellation notices concerning insurance or leases;
13. Copies of unexpired lease agreements;
14. Keys to (non-exempt) motor vehicles and buildings;
15. Divorce decrees and property settlement
agreements;
Drivers License;
Social Security Card;
Pleadings in lawsuit pending;
Student loan documents including repayment plan;
Copies of pension and profit sharing plans and the like;
Copies of stock certificates and bond;
Copies of homeowner and car insurance
policies.
These papers should be neatly arranged, and if possible, a separate envelope
should be used for each type of paper clearly marked as to its contents.
You must attend the Meeting of Creditors; your absence could result in the
dismissal of your petition. You and your attorney are also required to attend
any subsequent hearings.
All of your property is now under the jurisdiction of the United States
Bankruptcy Court, and it is your duty to keep and preserve it safely and to
account to the proper officials of the Court until the trustee determines
whether or not it is property of the estate. Do not sell, give away, or
otherwise transfer any property, including exempt property, until the trustee
has examined you at or after the scheduled Meeting and informs you that you may
do so.
Make sure that you have claimed all exemptions to which you are entitled.
Discuss your exemption rights with your attorney prior to the Meeting of
Creditors to make sure your exemptions have been properly claimed. Failure to
claim all allowable exemptions may result in the trustee administering property
that you might have been able to retain.
Until your case is finally closed, you must keep your attorney, the trustee
and this Court advised of any change in your address if other than that stated
in your schedules.
If you should have any questions about the above, discuss them with your
attorney. Thank you for your cooperation.
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