The creditors' meeting. After the forms are filed, a creditors' meeting is held to give the trustee an opportunity to learn about the case and evaluate the debtor. The creditors have about six months to file claims against the debtor. The trustee evaluates the creditors' claims. The trustee evaluates the claims and prioritizes them.
Secured creditors receive the highest priority, and unsecured creditors get a low priority.
Sale of assets. If the debtor has non-exempt assets that are worth selling, the trustee will sell the assets and fill the creditors' claims in order of priority. The trustee will fill all creditors' claims until there is no money remaining. The debtor will get any remaining money. Discharge of debts.