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Chapter 13 Hearings Explained By New Jersey Bankruptcy Lawyer

NJ Attorney For Chapter 13 Bankruptcy Hearings

There are two bankruptcy hearings in a New Jersey chapter 13 bankruptcy case. The first is called the Meeting of Creditors (MOC) or 341(a) hearing. The second is called the Confirmation Hearing.

The MOC is never held in a courtroom and a judge is not permitted to preside at the hearing. The MOC hearing is conducted in a Newark office building, in connection with Newark filed cases. This hearing is scheduled at the Robbinsville trustee’s office, in connection with the Trenton filed cases, and in a Camden or Northfield office building, for Camden filed cases.

The chapter 13 trustee or his/her counsel conducts the hearing and asks the debtor questions. Although permitted, it is very unusual for a creditor to appear and ask questions. The hearing lasts about 8 to 15 minutes. The hearing is recorded and the debtors must bring a photo ID and proof of their social security number. The questions pertain to the following: identity of the debtors; ensuring accuracy and completeness of the petition; asset values for the bankruptcy filing; prior and future income and expenses.

The second hearing is called a Confirmation Hearing, which is always at the appropriate courthouse. The debtor need not appear at the hearing. Only the debtor’s attorney must appear at the hearing. However, creditors who object to the plan may appear. The purpose of the hearing is to ensure that the debtor’s monthly trustee payments are accurate, which typically requires a payment adjustment.

At the hearing, the trustee or his/her counsel review the following to determine the required amount of the monthly payments: debtor’s bankruptcy plan; creditors’ claims; type of debt; debtor’s asset values; and debtor’s income and expenses. If the debtor or the objecting creditor does not agree with the trustee’s recommendation, any party can request a judge to resolve any issues.

Please contact New Jersey Bankruptcy lawyer Robert Manchel, at 866.503.5655 for a free consultation and explanation as to how chapter 13 or chapter 7 bankruptcy works.

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