The legal system can seem like a mysterious and even frightening place at times. The laws that are written governing bankruptcy are federal laws and they have been in a constant state of evolution for the past several decades.
Recent changes in the bankruptcy code have made it more complicated to file for bankruptcy, but it is something that certainly can be done. Hiring an experienced and savvy Minneapolis Bankruptcy Attorney can help smooth the process for the clients who are going through the complicated process of getting their documents in order for their case.
The bankruptcy filing is something that will require a great deal of financial information. A full accounting of the client’s income, assets and their debts must be assembled.
Next, it is important to look back over the past several years and see if any assets have been shifted to family members or friends. If any large gifts of money have been given to anyone and also to find out if any large payments have been made on any of the debts. All of these questions will be asked by the US Trustee at the court hearing that takes place near the end of the bankruptcy filing process.
Your Minneapolis Bankruptcy Attorney is completely familiar with the questions that you will be asked after the US Trustee has put you under oath at your creditor’s meeting. This court proceeding will be a chance for the US Trustee to look over your paperwork and to ask you any questions they may have about your home, your cars and other property that you are keeping.
The court hearings are generally quite short when none of your creditors are actually there to ask you questions. The main reason to have the court appearance is so that you are sworn to tell the truth and that the US Trustee can also confirm your identity by asking to see your driver’s license and your social security cards while they have you there, face to face.
Part of the proceeding where your attorney will accompany you is also to have you swear under oath that all of the information in your bankruptcy schedules is true and accurate to the best of your knowledge.
Being represented by an experienced and compassionate attorney for your bankruptcy can make the entire process much smoother for you.