The three kinds of trustees in consumer bankruptcy have tremendous power over you. So itâs important to know what they do, and how to stay in their good graces. Iâll introduce them in this blogâthe Chapter 7 trustee, the Chapter 13 trustee, and the United States Trustee. Then in the next three blogs Iâll tell you more about each of them.
1. Chapter 7 Trustee: Determines either that you have no ânon-exemptâ assets to collect or else pursues any such assets in order to liquidate them and pay the proceeds to your creditors. Reviews your documents and presides at your Meeting of Creditors for this purpose. Can conduct other investigation such as reviewing the public record. Can also pursue âfraudulent transfersâ or âpreferencesââmoney or assets either that you gave or sold to someone or that creditors got or took from you within a certain amount of time before the filing of your bankruptcy case.
