- 1). List all creditors BEFORE meeting with a bankruptcy attorney. Don't overlook any debts from the original list. Look in every file and read every piece of paper in the house to ensure no creditor is forgotten prior to an attorney meeting. Even if one or more creditors are subsequently eliminated from the bankruptcy filing, all debts should be listed at this time. When unsure, get a current credit report to be confident all debt is listed on the petition.
- 2). Decide if any creditors should not be listed because of valid reasons. Understand that if not named in the petition, these creditors can continue collection and legal action to recoup their collateral or outstanding monies due. Carefully evaluate if one or more creditors should be eliminated, as it is difficult to add them after filing.
- 3). Understand that the court considers the filing of a bankruptcy petition to be a "final" accounting of all creditors. Adding "new" debts, those created AFTER the filing date, will not be allowed. To add creditors after a filing date, one should have a valid reason for the original oversight and the debt must have existed prior to the creation of the petition.
- 4). Ask the advice of legal counsel regarding adding one or more creditors after the filing date. The attorney may recommend that the court be asked to dismiss the original case and to permit the filing of a new petition. However, depending on the jurisdiction, there will be a new round of filing fees, additional lawyer costs, and a possible delay, up to 180 days, to refile a petition. This may cause additional problems for the petitioner.
- 5). File an amended petition, if allowed; this is the best way to add one or more creditors to an active bankruptcy case. Be prepared to provide valid reasons for the inclusion of additional creditors and debts. A simple, "I forgot," may not be sufficient for the bankruptcy court. An amended petition lists the creditors to be added to the original filing and requests the court to discharge these debts as they existed prior to the original filing date.
- 6). Learn as much as possible about the federal bankruptcy regulations and local state statutes. Bankruptcy is unusual in that it is a federal law, but it allows individual states to modify some regulations and enforce their own preferences. Learn whether it is possible to add creditors after filing and how it is to be accomplished in the local jurisdiction.
- 7). Add creditors BEFORE the required meeting of creditors (commonly called the "341 meeting"). Trying to add creditors after the meeting may pose insurmountable problems, since "new" creditors were excluded from the formal meeting with their fellow lenders. A "no asset" bankruptcy may allow additional creditors to be added after the date of the 341 meeting, however, since there are no assets to provide some cash payouts to any creditors.
- 8). Filing a "no asset" Chapter 7 bankruptcy sometimes even eliminates the need to add creditors after filing. When there are no assets to be sold, creditors not specifically named in the original petition may have their debts discharged by the court in a Chapter 7 bankruptcy. Do not assume the court will allow this result, however. Include all creditors or add one or more, if allowed, after filing to be sure all debts are discharged.
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