Legal Question in Business Law in Missouri

In most circuits, the representative of the business (if it is incorporated) or the properietor is sworn in, and the judgmetn credtor, or their attorney, asks about the assests (bank accounts, cash holdings, equipment, goods, ettc) and the other debts of the person or company. Soemtimes this is doen on the record (with a court reporter or recording device) and sometimes not. It is gving testimony under oath, like in any other case. If the witness lies, they have committed perjury and can be criminally prosecuted.

There may be some questions for which a witness may refuse to answer. If you are concerned about having to fully divulge information (banks, account numbers, customer lists, etc.) you should hire counsel to represent you and/or the company. Too many people ignore the Notice to appear and wind up with a Writ of Bodily Attachment (commonly called an arrest warrant).

Many Judgmetn Creditor attorneys use the debtor exam hearing ans an opportunity to set up payment arrangments. If the company or person does not have the money or assets to pay the entire debt, it will be revealed in the exam. Having this information often gives the Judgment Creditor's attorney leeway to accept partial payments.

Good luck