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I have been considering bankruptcy for a while now. I don't know how intrusive the questions can be though. For instance will I have to turn over my bank statements and explain any transactions on them to the judge or creditors? Will I have to speak to some creditors about the accounts in question? Will a private investigator be looking into my affairs?

Thanks for any replies.

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For instance will I have to turn over my bank statements and explain any transactions on them to the judge or creditors? Will I have to speak to some creditors about the accounts in question? Will a private investigator be looking into my affairs?

You'll certainly have to account for where your income (if any) comes from and the judge will review recent payments for "preferrential" payments. Bank statements are the easiest way to show this.

The only way a creditor would see anything is if they show up at the hearing. Most don't. So...no...you won't have to talk to them.

No private investigator, unless you've done something that makes the judge suspicious.

Your best bet is to talk with a couple attornies...most will give you a free consulation...and see just what is involved for your circumstance.

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Actually, you will likely never see the BK judge and it's the Trustee who will be looking over your schedules very closely.

The new law now requires a LOT more paperwork that you must give to your attorney. Some of that is: 3-6 months of bank statements; at least the last 2 years' tax returns; proof of income (pay stubs); any life insurance policies; mortgage papers; auto titles and/or auto loan papers.. and there's more. If you're considering bankruptcy, start saving receipts for EVERYTHING now.

IF the Trustee thinks you're hiding something or that you have assets, he/she may hire an appraiser to go over your property and, if they suspect fraud, maybe an investigator to dig further.

What it comes down to is baring everything financially. Be honest, don't try hiding anything, do not SELL or transfer any property, and don't pay off loans to family and/or friends.

As for the 341 "meeting of creditors", most of the time NO creditors show up and if any of them do, they aren't allowed to grill you anyway.

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