Tuesday, July 2, 2013

What is a Trustee? What is Their Role in Bankruptcy? Atlanta Bankruptcy Attorneys King and King Explain.

What Role Does the Bankruptcy Trustee Play?

When you file for bankruptcy in Atlanta, you are assigned a trustee. This trustee is automatically assigned to you based on where you live. Basically, the trustee controls the process of the bankruptcy from start to finish. They look for assets to help repay creditors and make decisions in your case. You should know your rights and how this relationship works in regards to your bankruptcy plan. Watch the video now to learn more.

What Does a Chapter 7 or chapter 13 Bankruptcy Trustee Do?

The bankruptcy trustee is a private business person who may or may not be an attorney. He or she is charged with upholding the Bankruptcy Code and collecting as much money for the estate as possible. He or she works in the interest of creditors. According to the federal guidelines, the bankruptcy trustee gets a percentage of whatever is collected on behalf of creditors. Therefore, some financial incentive for the trustee involves ensuring that you are disclosing everything properly.

How Does the Trustee Meeting Work?
The purpose of this meeting is to verify the information in the bankruptcy petition, you are expected to bring all of your documentation, this meeting is generally a short one.
The trustee meeting commonly raises questions, contact us for a free consultation.

For more information about bankruptcy law and our firm, visit us at http://www.kingandkingattorneys.com, where you can view our information about chapter 7, and chapter 13 bankruptcy. If you have legal questions, call us at (404) 524-6400 for a free consultation.

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