Understanding the Bankruptcy Trustee
Each bankruptcy under federal law involves a bankruptcy trustee who plays an important role with a great deal of authority over the bankruptcy process. At the same time, that authority is governed by specific laws, and most people have little to worry about when it comes to dealing with their bankruptcy trustee.
Contact us at Walton Legal Services in Indianapolis or Columbus, Indiana, to learn more about how we can make the process of interacting with a bankruptcy trustee go smoothly for you.
Making Payments to the Chapter 13 Trustee
Under a Chapter 13 bankruptcy payment plan, a bankruptcy trustee will be in charge of collecting a monthly payment from you and distributing the funds to your creditors. Only the Chapter 13 trustee, who is appointed by the government, can collect on the debts covered by the payment plan.
Some debts will still have to be dealt with outside of the payment plan, such as current payments on mortgages, but the Chapter 13 trustee will generally handle any back payments you may owe on these debts.
At the beginning of the process, you will meet with the Chapter 13 trustee and your creditors in order to go over the plan. There may be additional hearings during the payment plan period, but we can represent you at all of these proceedings.
Contact us to work with bankruptcy lawyers who are experienced at advocating for clients' interests before bankruptcy trustees.
Interacting With the Chapter 7 Trustee
A bankruptcy trustee is also involved in the Chapter 7 bankruptcy process, but to a lesser extent. If you have assets that are not exempt from liquidation, the trustee will sell off those assets in order to pay your creditors. However, most Chapter 7 bankruptcies do not involve the sale of any assets.
During a Chapter 7 bankruptcy, our typical client has a brief, straightforward meeting with the bankruptcy trustee and creditors. We will be there with you at this meeting.
