The notice sets forth information concerning the meeting, the filing of claims and the selection of a trustee. The creditors are also told that if they have a valid objection to the debtor receiving a discharge, they must file a formal written objection within a specified number of days. The debtor must be completely truthful and cooperative in answering questions concerning his financial status. The bankruptcy judge is not permitted to attend the meeting of creditors. A bankruptcy clerk or trustee presides at the meeting.
Creditors have the right to elect a bankruptcy trustee of their choice.
If creditors fail to elect a trustee, the interim trustee appointed by the court or by the U.S. Trustee, as the case may be, becomes the trustee. D. Creditor Claims Creditors must file their claims with the bankruptcy court within six months of the first date set for the first meeting of creditors or be barred from participating in any dividend which may be declared. There is a prescribed form for submitting proofs of claim which may be obtained from any stationery store which stocks legal forms or from the bankruptcy court. If the creditor fails to file a claim, the trustee or a co-debtor may file a claim for the creditor. For several years Sears had been threatening to repossess its bankrupt customers' goods, even though their debts had been discharged in bankruptcy.