The bankruptcy trustee is an impartial individual, typically appointed by the US Department of Justice, who oversees your estate and assets during a bankruptcy proceeding.
In a Chapter 7 case, the trustee will be in charge of compiling your non-exempt property, liquidating it, and then allocating the funds from the liquidation.
In a Chapter 13 Reorganization, the trustee will handle your monthly payments, distributing them to your creditors.
The trustee has other duties, including questioning you under oath and ensuring that allocations are made properly.
They can even avoid liens and other encumbrances if they’ve been improperly executed and sell your property free and clear.
The attorneys at Zelenitz, Shapiro & D’Agostino can help you understand the role of the bankruptcy trustee and how it can help you.
Call us today at 718-599-1111 and talk to a bankruptcy lawyer for free.