No creditor can "stop the BK 7 process". The few times they show up at the Meeting of Creditors is to find out where is their collateral or because they are non-institutional creditors and unfamiliar with the process. Even a creditor who ultimately files an adversary complaint wants to prevent its debt from being discharged and let all other debts be discharged. On rare occasions, a creditor may bring certain information to the attention of the trustee which may result in the trustee making further inquiry at the Meeting of Creditors. The kind of information that could be damaging to the debtor's case involves some kind of fraud, omission of assets, hiding, transferring assets, that kind of thing. If the trustee gets wind of something like that, your case could be referred to the US Attorney for further investigation. This is rare and your BK attorney should impress upon you the need for complete and accurate disclosure of all relevant financial details. You will be (or have already) signing your BK paperwork under penalty of perjury. Sometimes a warning is printed on the bottom of your petition which reads: Bankruptcy fraud is investigated by the FBI and carries imprisonment and/or $250K fines upon conviction. The same warning is usually posted on the desk or on the wall in the Trustee's Meeting place Read the case of professional baseball player Lenny Dykstra. Here is the link: http://espn.go.com/mlb/story/_/id/9410838/lenny-dykstra-released-prison
Usually only secured creditors, defrauded creditors and lay creditors show up.
Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662. Please be aware that each answer on this website is based upon the facts, or lack thereof, provided in the question. To be sure you get complete and comprehensive answers, based upon the totality of your situation, contact a local attorney who specializes in the area of law that involves your legal problem. Diane L. Gruber has been practicing law in Oregon for 26 years, specializing in family law, bankruptcy, estate planning and probate. Note: Diane L. Gruber does not represent you until a written fee agreement has been signed by you and Diane L. Gruber, and the fee listed in the agreement has been paid.
The purpose of the 341 is to determine if you have any assets the trustee can sell to pay your creditors and to see if you told the truth when you filled out your forms. If creditors show up they either know something you don't about your assets or they are trying to catch you in a lie. As long as you told the truth when you filled out your paperwork you should be fine.