Bankruptcy Court Facts
Bankruptcy Court facts
For those who are planning to file for bankruptcy you will need to make an appearance at court. You will find that US Bankruptcy courts deals with all aspects of bankruptcy law. There are 94 judicial districts that hears all matters of bankruptcy.
Each bankruptcy court houses a bankruptcy judge who is appointed to 14 years by the U.S. court of appeals. It happens to be very rare, you will find that district courts can hear your bankruptcy cases and also they will rule on the case according to the court’s discression.
Your first visit will be very short and you may not even see a judge. You will not be seeing a judge on your first visit, but instead a trustee of the court who will ask you questions regarding you financial status and history.
Some of the questions that you are asked with be like where you live, is there property you own, and then you’ll have to list all your assets and liabilities. Also, you’ll have to answer questions about any pending lawsuits that another person has against you.
You will also be asked if you expect to inherit cash from a relative or other source. No creditors will be in attendance during your chapter 7 hearing and your lawyer will be with you the whole time.
Chapter 13 cases are pretty much the same, but you may have to answer questions about your payment plans.
Whenever you end up having to come back to court, you need to show up on time, because you will return after two or three months to make the bankruptcy official.
This is not something to mess with because you will be held in contempt and you will also find that the judge will discharge your case unless your attorney files the continuance. You will also have to pay for the attorney in extra fees and also you can have a lot of other fees on top of that.
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