Who Is The Bankruptcy Trustee?

: Chris Lee Law Firm

  Filed under: Filing Bankruptcy

People who are considering filing for bankruptcy may or may not be aware of who all is going to be involved in the case. For many, the term “bankruptcy trustee” has never been heard and their role is completely unknown. While the trustee is a key player in your bankruptcy case, getting to know a little about their position will help you be prepared for what lies ahead.

Getting To Know You

The bankruptcy trustee is a person appointed by the court to mediate interactions with you and your creditors. Their job is to handle any liquidation proceedings, if warranted, and to make payments to creditors on your behalf. This means that they are appointed for the purposes of administrative efficiency and not ensure that the plan approved by the court is carried out. An issue that some debtors find challenging with the trustee, is the fact that they technically represent the collective interest of the creditors; not you. While this may seem to work against your favor, they certainly are not out to stand in your way of debt relief.

The trustee is free to monitor your financial affairs while you are in an active bankruptcy case and call into question any suspicious behavior, or actions that deviate from the court appointed plan. Although not everyone sees the trustee and an adversary, they do ensure your case is handled according to bankruptcy code. The good news is that they are not the decision maker in your case, the court is. If you run into a problem with the trustee or their actions, you can contact your Dallas bankruptcy attorney to help resolve your complaints. The attorney can help put you in contact with the judge and work to resolve your issue.

The bottom line is that the judge, trustee and your attorney are all working towards the same goal: helping you find financial freedom.

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