Who is the bankruptcy trustee?
A Bankruptcy Trustee is an individual who is assigned by the Bankruptcy Court to administer bankruptcy cases. This individual represents the estate of the debtor. The Trustee claims any non‑exempt property of the debtor and sells the property for the estate. Once the non‑exempt property is sold, the Trustee distributes the proceeds (less the Trustee’s expenses) among the creditors so that they receive a portion of their debts. Most Chapter 7 bankruptcy cases in Fort Worth are called “No Asset” cases. This means that there is no non‑exempt property of the estate for the Trustee to sell since all the property is exempt. The Trustee may request additional information from you. Should this transpire, you should promptly furnish any information requested. In addition, should you refuse to comply with bankruptcy laws, fail to furnish information requested by the Trustee, or fail to attend the First Meeting of Creditors without justifiable cause, the Trustee may ask the Court to dismiss the b
A bankruptcy Trustee is assigned to each bankruptcy that is filed. In Chapter 7 the Trustee may claim certain assets that are not protected, and liquidate those assets using the funds to pay the creditors some money. A Chapter 13 trustee is responsible for collecting a debtors Chapter 13 payments and distributing them to creditors during the plan. In Chapter 7 and Chapter 13 the trustees also are responsible for questioning each debtor at the meeting of creditors.
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?
