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QIn chapter 7 Bankruptcy, what is the purpose of the meeting of creditors?

When a creditor can not recover property that is not safe ?

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#1tyler smithAnswered at 2013-04-20 06:59:33
the purpose is that any that have claims that are insured . Most credit card companies will not show , but the mortgage lenders and car
#2AnonymousAnswered at 2013-05-17 12:28:18
The purpose of the 341 meeting is twofold: give your Chapter 7 trustee an opportunity to ask , and to give creditors the opportunity to question him.

Secured creditors will be shown in the meeting to determine whether to maintain the warranty and if insured , or if you are delivering it, want to know where and what type of conditions found in .

Contrary to what he said the first respondent, the unsecured creditors appear in 341 games on occasion. If you made all that seem fraudulent charges , they'll want to know what you use the card for and if you intend to return the money.

The Chapter 7 Trustee will ask you questions to help you determine if you have any non-exempt assets that can be sold or any money you can muster.
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