Michigan Bankruptcy Meeting of the Creditors:
Trustees are assigned multiple roles in Michigan bankruptcy cases under Chapter 7 & Chapter 13. During the meeting of the creditors, trustees examine debtors and their schedules for compliance with all statutes and laws. Also, and equally important, trustees protect debtors from unfounded allegations and abuse from creditors who may choose to attend this public meeting. Unprofessional conduct will not be tolerated from any party.
| 11 U.S.C. §341(d): Prior to the conclusion of the meeting of creditors or equity security holders, the trustee shall orally examine the debtor to ensure that the debtor in a case under chapter of this title is aware of - (1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history; (2) the debtor's ability to file a petition under a different chapter of this title; (3) the effect of receiving a discharge of debts under this title; and (4) the effect of reaffirming a debt, including the debtor's knowledge of the provisions of section 524(d) of this title |
NOTICE OF AMENDED FORMS AND AUTOMATIC ADJUSTMENTS TO DOLLAR AMOUNTS: On April 1, 2004, automatic adjustments to the dollar amounts stated in various provisions of the Code will become effective in Michigan Bankruptcy Courts. The new dollar amounts will apply to cases filed after the effective date. These amended dollar amounts will affect the eligibility of a debtor to file under Chapter 13 of the Code, certain maximum values of property that a debtor may claim as exempt, the maximum amount of certain claims entitled to priority, the minimum aggregate value of claims needed to commence an involuntary petition, and the value of luxury foods and services deemed to be nondischargeable. The Michigan Bankruptcy Courts will adopt new forms to incorporate these changes beginning April 1, 2004.
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