Some Thoughts On Returning From A Creditor's Meeting

I just accompanied a pro bono bankruptcy client to a creditor's meeting. This is a meeting where the person going bankrupt meets the bankruptcy trustee, and creditors are free to come and ask whatever questions they want of the individual who declared bankruptcy. Usually creditors don't show up, and it's just a bunch of scared people, a few bored attorneys, and a trustee with a huge stack of files asking the same questions over and over. I always tell my clients they will be surprised at how quick and easy it is, and although I try to describe it and de-mystify it, they always leave going, "Wow, that was it? That was really quick. He was really nice. Wow. I can't believe how easy that was."

Today we were low on the trustee's list so we sat in the front row and watched about nine other debtors go through the little spiel. Mostly they didn't have any property or any assets. One had $25,000 in an IRA and a BMW and a house, which my client found amazing and somewhat horrible -- "what's she doing in bankruptcy?!" The trustee had a little spiel that he would say after asking the debtors whether they were telling the truth, whether they'd sold any property in the last year, whether they owned a vehicle or any land or buildings, etc. He'd get to the end of his questions and recite the following: "Chapter7wasdesignedtogiveyouafreshfinanicalstart. Ihopeitworksoutforyougoodluck." Generally he would remember to make eye contact with the debtors at least by the final two words. It wasn't very inspiring, especially hearing it recited, unchanged nine times before he addressed it to my client. I guess if you do these all the time as a trustee you forget the experience of being new and scared and ashamed of whatever circumstances brought this person into bankruptcy.

I also think it's a little insensitive for the trustee to joke around about going golfing with the lawyers while people who have no assets to speak of and no source of income except a minimum wage job, or disability, are sitting at the table.

Finally, I really think that young women should recognize the limitations of tattoos to intrigue or allure.

Comments

[John P.]

Good post

[pnash]

Started reading your blog last week - am very much enjoying it.

For sure, I have joined your voyeurs galore.

Yeah for strangers!