Question by Mycroft: Does bankruptcy depend on the cooperation of creditors?
I had thought it wasn’t, since after all, if creditors would voluntarily reduce debts to something manageable, bankruptcy wouldn’t be necessary. However, some people here on Yahoo Answers seem to think it does depend on the creditors.
Best answer:
Answer by Beverly S
The bankruptcy court has a meeting of creditors which you must attend. Creditors are invited to attend but usually don’t. They can fight your bankruptcy if they think you are committing fraud (example: you go out & max out your credit card & then file bankruptcy). This RARELY happens since they don’t have time to go to the hearing.
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