Definition

• When a petitioner files Chapter 7, it means most debts may be legally forgiven. In Chapter 13, the court requires the person to partially repay at least some of her debts.
  
  

Notification Basics

• Each creditor, whether a landlord or a credit card lender, receives official notice from the United States Bankruptcy Court when a debtor files a case.
  
  

Considerations

• Bankruptcy filings are a matter of public record and accessible to anyone. Some community newspapers publish notices of personal bankruptcy.
  
  

Creditor Ramifications

• If you are owed a debt and receive a bankruptcy notice, you are legally barred from trying to get the money while the court considers the debtor's case.
  
  

Meeting of Creditors

• Each debtor pursuing bankruptcy must attend a 341 meeting of creditors. If you object to the bankruptcy for reasons such as possible fraud on the part of the petitioner, you should attend this hearing on the date reflected on your notice.