The bankruptcy hearing is technically called the first meeting of creditors. The name is mostly historical; originally the creditors were invited to a meeting when someone filed bankruptcy. While creditors are still invited to come to the bankruptcy hearing, it is a rare occasion when they attend.
So what happens there?
Let's look at who is in attendance at the bankruptcy hearing. First, you will not find the Bankruptcy Judge there. The Judge is prohibited from appearing at these hearings. You will find the Bankruptcy Trustee who is assigned to your case. Of course, you will be there and your lawyer, too.
What will be surprising is the number of other people there. Who are they? They are all the people who have filed bankruptcy around the same time you did. Yes, you are not alone! In my jurisdiction, the schedule calls for an average of six cases to be heard every half hour.