One of the main principles of bankruptcy law, is that all of your creditors get treated equally, based on the “class” of their type of debt. Basically, your creditors are not allowed to go after you, or race to the courthouse to try and get your last dollars, because the bankruptcy trustee and bankruptcy estate ensures they get fair treatment. As such, one of the most important elements in filing a bankruptcy is making sure that notice goes out to all your creditors (and even including potential creditors if you are not sure).
Once your case is filed, creditors are mailed a notice of filing with the date and time for your 11 U.S.C. § 341 meeting. The 341 meeting is when creditors can ask you questions about your case, but there are many things creditors are not allowed to ask you about, and it is very rare that they attend these meetings. For certain cases, if you creditors do not get notice before a set period of time, then can no longer discharge the debt you owed.
At Kain & Scott we can pull your credit report, and search for judgments and collections lawsuits against you, but it is always helpful to collect bills and statements from potential creditors of yours. All we really need is an address and we can handle the rest. Once the case is filed you get protection from your creditors, and your attorney can handle all the follow up with creditors filed to give you peace of mind. The calls and demands stop! What a feeling.
When the time is right, when you are ready to get your life back, reach out to Minnesota’s largest and nicest bankruptcy law firm, by going now to www.kainscott.com or give me a call at 1-800-551-3292. You will be thankful you did.