A:When you file a bankruptcy the first thing that happens is the automatic stay. This is designed to provide legal protection from collections. Basically, this stay keeps creditors from collecting on the debt. The automatic stay will stop wage garnishments, foreclosures & repossessions. Once your case is filed a date will be set for your Meeting of Creditors or 341 meeting. This is a court held meeting between you, your assigned bankruptcy trustee, and any creditors that choose to attend. If you are represented by an attorney, they should be in attendance with you as well. You will be asked questions regarding your specific financial situation and your decision to file bankruptcy.
Once this meeting is concluded you will be on your way to a bankruptcy discharge.