Streamlining Your BankruptcyStreamlining Your Bankruptcy

About Me

Streamlining Your Bankruptcy

I knew that I had hit rock bottom financially when I started making credit card payments with other credit cards. Before I knew it, collectors were contacting me almost hourly, and it started to get really frustrating. I knew that I had to turn things around, which is why I decided to meet with a bankruptcy attorney. My lawyer took the time to listen to my troubles and walk me through the bankruptcy process. He made everything seem much more manageable, which really helped me out. This blog is here to educate other people about how much the right bankruptcy lawyer can help.

The Role Of The Bankruptcy Trustee In Your Chapter 7 Case

Shortly after you file all the documents for your Chapter 7 bankruptcy case, the bankruptcy court will notify you about an upcoming meeting you will have. This meeting is called a 341 meeting with creditors, and it is a meeting where you will meet the bankruptcy trustee who is responsible for your case. At this point, you probably do not know what a trustee is, so here are several things you should understand about the role the trustee plays in your case.

The Trustee Is Appointed by the Court

A bankruptcy trustee is someone who works for the bankruptcy court, and the court appoints this person as a trustee. Depending on the size of the bankruptcy court in your area, the court may have just one trustee or many. Each person that files for Chapter 7 bankruptcy will have a specific trustee, and this person will work with you throughout your entire case. The trustee is like the middle man between the bankruptcy court and your lawyer. The trustee will never contact you directly via phone but may contact your lawyer if necessary.

The Trustee's Job Is to Review Your Case

The main role of the trustee in your case is to review your entire case. After you file the paperwork, the trustee will receive them. The trustee then has some major responsibilities with your case, and it often begins by making sure you are eligible to file if you filed at some point in the past. In other words, if this is not the first time you are filing, the trustee will make sure you have waited long enough to file.

Additionally, the trustee will review the accuracy of all your assets and debts, and he or she may ask questions about these things, simply to find out what assets he or she could seize, and which debts qualify for discharge.

The Trustee Will Make Decisions

Finally, the trustee will decide what to do with your case. He or she can approve it or dismiss it. The trustee can take assets from you or let you keep them. These are the types of decisions the trustee must make, but he or she must follow the law when making them.

If you are ready to file for Chapter 7, it is important to know that you will meet with the trustee, and he or she will ask you questions. Contact a firm, like Phoenix Law, to help you prepare for this appointment.