Your Meeting of Creditors Likely Won't Be Like Casey Anthony's!

Posted on Mar 09, 2013

The videos of Casey Anthony arriving for her bankruptcy hearing are just not typical, so don't be worried. Reporters and photographers mobbing her and her attorney, just is not the usual situation. And then her being grilled by the Chapter 7 Trustee, trying to find out if she owns a computer and such, while it could happen, just doesn't usually happen - here in Texas anyway.

Most meetings of creditors are pretty sedate, and few if any creditors show up. The Chapter 7 Trustee definitely asks you some questions to verify that you have accurately listed your debts and your property, but usually they are sympathetic to your situation, at least most of the trustees here in Houston are.

Moreover, here in Texas the amount of personal property that can be claimed as exempt is as much as $30,000 for a single person, and $60,000 for a family. So the trustee is not usually so interested in your computer. Of course, it would be different if you had some valuable intellectual property on it, as it is suspected that may exist on a computer of Casey Anthony's, if she has one.

Only time will tell if her particular bankruptcy is successful, but I can tell you that the vast majority of Chapter 7 bankruptcies are successfully discharged and completed, at least if the debtors have good represention, and follow all the rules and regulations. Its when people try to hide assets or transfer them to others before the bankruptcy that they can get into serious trouble.

 

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