Information about a debtor is available from many different sources. Many states now have all lawsuits, business history and propery ownership records available online. The debtor itself is required to file Schedules and Statement of Financial Affairs at the beginning of a bankruptcy case. These are documents signed under oath that contain important information about the debtor’s assets, liabilities, income, and expenses.
The debtor must also testify under oath at a meeting where all creditors are welcome to appear and ask questions. These tend to be shorter examinations and are recorded digitally.
To obtain detailed information a creditor may take a bankruptcy deposition known as a Rule 2004 exam and compel the debtor to produce much more extensive information than is available in the Schedules and Statement of Financial Affairs.
For a more in depth discussion of bankruptcy information see the article Gone Fishing: The Broad Reach of Bankruptcy Depositions.
How Do I Get Information About A Debtor?
Ronald J. Drescher has been practicing since 1986 in the areas of business transactions, commercial litigation, loan documentation, bankruptcy, creditors’ rights, and out-of-court workouts. His experience also includes corporate reorganizations, insolvency, business and tax planning.
