What is a Bankruptcy Trustee?
Are you being told that you will need a bankruptcy trustee to review your documents? Watch this video by Buffalo Bankruptcy Lawyer Michael F. Barrett for an explanation of the role of a bankruptcy trustee. If you have questions about bankruptcy, please contact us to schedule a consultation with an experienced bankruptcy attorney today. We welcome the opportunity to assist you on your road to financial recovery.
- When a Chapter 7 Bankruptcy is filed, a bankruptcy trustee is assigned to your case.
- The trustee will review your paperwork for accuracy and collect legally permitted assets to be used toward paying off your creditors.
- In most cases, the trustee cannot collect any assets, resulting in what we call no-asset cases, because the law’s strong protections allow debtors to keep a lot of their property.
- Competent legal assistance is essential in bankruptcy cases because if exemptions are not applied correctly, the trustee may be able to take your property.