The Role of the Trustee
Bankruptcy & Trustee Attorneys in Los Angeles
If you are considering filing for bankruptcy, you may have questions about the role of the trustee in a bankruptcy case. Whether you file for Chapter 7 or Chapter 13 bankruptcy, your case will be assigned to a trustee. The trustee your case is assigned to generally handles the case to its completion. The attorneys at Resnik Hayes Moradi LLP have worked extensively with bankruptcy trustees throughout the Los Angeles area. We know what trustees require to oversee a successful bankruptcy and can use that knowledge to help you pursue your debt relief goals.
Take the first step on the road to debt relief when you contact our Los Angeles bankruptcy lawyers today.
Who Is the Bankruptcy Trustee?
The bankruptcy trustee is not a government official, but rather a private contractor hired by the U.S. Department of Justice.
The role of a trustee is different depending upon whether you file for Chapter 7 or Chapter 13 bankruptcy:
In a Chapter 7 bankruptcy, the trustee’s primary role is to liquidate the assets that are not protected (“non-exempt”) under California law and to distribute the money obtained from the sale among the creditors.
In a Chapter 13 bankruptcy, the trustee’s role lasts from the initial filing to the end of the three- to five-year payment plan. He or she will be responsible for collecting your payments and distributing the money to your creditors. The trustee also has the ability to initiate a modification of the payment plan.
The trustee can have a significant impact on your bankruptcy case. It can help your prospects to work with bankruptcy lawyers who fully understand the role of the trustee.
Call us at (213) 344-0043 today for a free initial consultation about filing for bankruptcy with Resnik Hayes Moradi LLP. Our offices are open weekdays from 7:00 a.m. to 7:00 p.m.
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