What Is A Bankruptcy Trustee?
What is a bankruptcy trustee?
When you're struggling with money, it can seem like help is nowhere to be found. It's easy to feel like you're all alone, and that no one will ever understand what you're going through. But bankruptcy trustees exist to help people just like you who are in need of financial assistance. They serve as an invaluable resource for those who want to get back on their feet after a financial crisis.
Let's talk about what a bankruptcy trustee is, how they can help, and why they're so important—whether your own bankruptcy (Chapter 7 or Chapter 13) or that of someone else who has fallen on hard times (individual or business).
A bankruptcy trustee is a person appointed by the court to oversee and manage a bankruptcy estate. The bankruptcy trustee has several main duties, including making sure that all creditors receive payments from the bankrupt debtor, paying for costs related to the administration of the bankruptcy estate and distributing any remaining money or property in accordance with the bankruptcy plan or order. The role of a bankruptcy trustee can be complex and can vary from case to case depending on certain factors, such as whether the debtor files for Chapter 7 or 13 bankruptcy and whether an adversary proceeding is filed.
If you have any questions or need a Bankruptcy Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
