Role of a Trustee in Personal Bankruptcy
Our Los Angeles bankruptcy lawyers have been practicing in Southern California for over 20 years. We have a good reputation with bankruptcy trustees for being well-prepared, detail-oriented, thorough and professional that provides a smooth process for our clients. In this way, our clients can avoid litigation, saving time and money.
Role of a Chapter 7, Chapter 13, or Chapter 11 Bankruptcy Trustee
Chapter 7, Chapter 11, and Chapter 13 bankruptcy trustees are appointed by the United States Trustee, an officer of the U.S. Department of Justice.
Primarily, a bankruptcy trustee acts as a representative of the creditors. The trustees are held accountable with making sure the process is run smoothly, from approval of the bankruptcy plan to the creditors' meeting. Responsibilities of the trustee vary depending on which kind of bankruptcy is filed. Generally speaking, however, as part of his or her role, the trustee may:
- Collect the debtor's assets or property
- Liquidate non-exempt property
- Approve repayment plans
- Approve lien stripping or loan cram-downs
- Raise objection to the discharge of debt or exemptions claimed by the debtor
- Distribute proceeds of the estate to creditors, according to the creditors' priority, which is established by complicated rules of bankruptcy
An important aspect of ensuring the bankruptcy process runs smoothly is to work with experienced and savvy bankruptcy attorneys who have a good relationship with California's bankruptcy trustees. The Chapter 7, Chapter 11, and Chapter 13 bankruptcy trustees know that the process will be done as efficiently and effectively as is possible when they are working with the bankruptcy attorneys at Weintraub & Selth.
Weintraub & Selth, Navigating You Through the Bankruptcy Process With Ease
We are committed to maintaining our well-deserved reputation for preparedness and professionalism throughout the bankruptcy process, so that we are able to provide excellent representation to our clients now and in the future.
Contact our Los Angeles bankruptcy attorneys today to schedule an appointment to discuss your options.
