answersLogoWhite

0

In Chapter 7 bankruptcy proceedings, a trustee is responsible for overseeing the liquidation of the debtor's assets to repay creditors. They review the debtor's financial information, sell non-exempt assets, and distribute the proceeds to creditors.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Related Questions

How can you find out the status of a chapter 7 bankruptcy?

Contact the trustee who is in charge of the case.


Can they repo your car if there is a open chapter 7 bankruptcy?

NO collection activity may occur legally during bankruptcy proceedings.


Will bankruptcy trustee take pain and suffering settlement?

If (a) you filed Chapter 7 *AND* (b) the injury occurred *AFTER* you filed, no. Otherwise, you should discuss it with your bankruptcy attorney.


Can they hold your federal return in chapter 7 bankruptcy?

The trustee can ask you to turn it over to him if he knows that you are getting a refund back.


If you are in bankruptcy can you still purchase a new or used car?

If it is chapter 7 and has not been discharged then, no. If it is a chapter 13 then the bankruptcy filer would need the permissin of the trustee to make any major financial transactions.


Why can a trustee take your income tax return if you are filing a chapter 7 bankruptcy which relieves you of your debt and does the trustee give the money to the creditors?

The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.


Can you change from a chapter 13 to a chapter 7 if you have 1 year or two to go in your bankruptcy in Louisiana if so how?

Converting a 13 to a Chapter 7 is not uncommon and is usually allowed. The first step in the procedure should be contacting the Chapter 13 BK trustee. The trustee will be able to inform the involved parties if they qualify for the conversion.


Will chapter 7 bankruptcy stop a foreclosure in California?

Yes, temporarily. Filing for bankruptcy protects your from collection actions taken by your creditors, including foreclosure during the proceedings.


My fiance filed chapter 11 bankruptcy and now we want to get married can the court trustee demand more money?

Make sure that it was a chapter 11 and not a chapter 7 or a chapter 13. Many times there are no trustees in a chapter 11 and chapter 11 is almost always a larger business bankruptcy.


What happens if you miss your meeting of creditors in a California Chapter 7 bankruptcy?

You will probably receive one more chance. You need to have your lawyer contact the bankruptcy trustee and see if it can be rescheduled.


How do you find out when you filed chapter 7 bankruptcy?

You can find out when you filed for Chapter 7 bankruptcy by checking the public records at the bankruptcy court where your case was filed. You can also contact your bankruptcy attorney or the trustee assigned to your case for this information.


Can you sell my home while in a chapter 13 bankrupcty and keep the profits?

You will need to obtain the consent of the Chapter 7 trustee before selling any property of the bankruptcy estate.