What Happens After Filing Bankruptcy?

One of the most common questions that I am asked as a Seattle bankruptcy attorney is what happens after filing bankruptcy?  This is a loaded question and how things transpire after filing bankruptcy will depend on each case individually however I have compiled a list of what most debtors can expect. (1) Do I have to Go to Court After Filing Bankruptcy? Most Consumers who file bankruptcy will need to go to court one time for a 341 meeting of creditors.  This meeting generally lasts 5 minutes although you should plan to be at court for about an hour.  The purpose of the meeting is to allow the bankruptcy trustee to ask you questions about your assets and financial circumstances. Creditors may attend however that is usually unlikely unless a creditor wants to question you about your business affairs in order to prove some sort of fraud or ask about assets. (2) Your Credit Will Improve Over Time After Filing Bankruptcy When you file for bankruptcy, you must list all…

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