What is a Bankruptcy Trustee and What is Their Role?
Appointing bankruptcy trustees is an important part of the law in Phoenix, Arizona. The Frutkin Law Firm bankruptcy attorneys will help you to understand the vital function that these trustees will serve. A bankruptcy trustee is a disinterested person who has been reviewed and appointed by the court to assist in resolving bankruptcy cases. Usually, these trustees are attorneys or accountants who are familiar with legal and financial matters. The trustee’s primary purpose is to carry out the orders of the court for repaying creditors in bankruptcy cases. The duties of a bankruptcy trustee vary by the type of bankruptcy filing. For a Chapter 7 bankruptcy, the trustee will preside over a court-ordered meeting of the creditors where you must answer questions under oath about your assets. Contrary to the name, the creditors in the majority of cases do not show up for this meeting. The Chapter 7 trustee will verify and liquidate all of your non-exempt assets and use the proceeds to pay the c
Related Questions
- Are payments received from Pathfinder subject to recovery in the event the Bankruptcy Court trustee seeks to recover monies previously paid to Gramercy Court lenders?
- How does a person buy back their own assets from the bankruptcy trustee?
- What kind of questions does the bankruptcy trustee ask people?
