What happens at my creditors meeting during Chapter 13 Bankruptcy?

When filing for Chapter 13 Bankruptcy in California, a meeting of creditors is held. This meeting is an important part of the process and allows your creditors to review your case. At the creditors meeting, a trustee appointed by the court will ask you questions about your finances and your proposed repayment plan. You must answer these questions honestly and provide all of the necessary documents. Your creditors (those you owe money to) then have the opportunity to ask you questions as well. They might want to make sure that you understand your obligations under the repayment plan and that they will be paid what they are owed. At the meeting, your creditors can either agree to the proposed repayment plan or object to it. If they agree, the plan is approved and you make payments directly to the court-appointed trustee. If they object, the court will decide whether or not to approve the plan. The creditors meeting is an important step in the Chapter 13 Bankruptcy process, so it is important to be honest and prepared. The meeting is also a time for you to explain your financial situation and make sure that your creditors understand it. This can help you get a fair repayment plan that is approved by the court.

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