The Bankruptcy Trustee
The Bankruptcy trustee is the creditor representative in a Bankruptcy case. They are appointed by the Bankruptcy Court.
Looking for Assets
When you file a Bankruptcy case, the Trustee is the person who will be scrutinizing it. Their primary goal is to look for assets of yours that are not exempt under state or federal law. This means, that they would right the right to sell them and take the money to pay their fees and give the rest to creditors.
Objecting to Exemptions
The trustee may object to your claim that an asset is exempt. For example, if you have a house that you do not live in, the trustee will likely object if you claim it is a homestead property.
If you transferred property or paid debts prior to your Bankruptcy filing, the trustee may try to “avoid” those transactions and reclaim the property or money transferred.
The Trustee is someone who has to power to throw a wrench in your Bankruptcy case. When you meet with us, we are attempting to ensure that there will be no issues that would cause the Trustee to get involved in. Bankruptcy takes planning and takes an attorney with experience.