Who is the bankruptcy trustee?
The trustee plays a vital role in most bankruptcy cases. The trustee is an impartial party appointed to administer the case and liquidate the debtor’s nonexempt assets.
Is there a trustee in both Chapter 7 and Chapter 13 bankruptcy?
Yes, a trustee is appointed in both Chapter 7 and Chapter 13 cases. However, the duties of the trustee will vary between the two types of bankruptcy.
Is the trustee a judge?
No, the trustee does not serve in the same capacity as a judge. The trustee will have some authority over the administration of the case but does not have the authority to issue judicial orders.
What does the trustee do in a Chapter 7 case?
The primary objective of the trustee in a Chapter 7 case is to maximize the value of the estate for the benefit of the creditors. For instance, the trustee has a duty to investigate the debtor’s financial affairs to discover funds that may be used to pay creditors.
