Asked by
Cozette Gatson
on Nov 21, 2024
Verified
If a debtor fails to appear at the Chapter 7 creditors' meeting, the court may refuse to grant the bankruptcy.
Creditors' Meeting
A gathering organized during the bankruptcy process where creditors can question the debtor about their finances and the proposed plans for reorganizing or settling debts.
Bankruptcy
A legal status for individuals or entities that cannot repay the debts they owe, allowing them to seek relief through court intervention.
- Understand the importance of credit counseling and the involvement of the debtor in the bankruptcy procedure.
- Acquire knowledge about the procedural elements of initiating a bankruptcy case and the importance of fulfilling court obligations.
Verified Answer
AS
Learning Objectives
- Understand the importance of credit counseling and the involvement of the debtor in the bankruptcy procedure.
- Acquire knowledge about the procedural elements of initiating a bankruptcy case and the importance of fulfilling court obligations.