Bankruptcy Trustees

Bankruptcy Trustees

Chicago Bankruptcy Attorneys Are Here to Help You

Whenever a Chapter 7, Chapter 12, and Chapter 13 bankruptcy cases is filed, the court will appoint a trustee to oversee and administer all processes. Either a private individual or a corporation can be chosen to serve as trustee. As the representative of the bankruptcy estate, the trustee exercises statutory powers, mainly for the benefit of unsecured creditors, under the explicit supervision of the court and the U.S. trustee or bankruptcy administrator.


If you are filing for bankruptcy and need help understanding the role of your trustee, we have can help. Contact Smith Ortiz, P.C. today.


The Benefits of Working with Our Firm

When decide to retain one of our bankruptcy lawyers to assist you, you will get the benefit of our ability to fully analyze cases with your total financial picture in mind. We make it our priority to provide the highest quality and most comprehensive service possible by tailoring our strategies to your particular situation.

Clients come to Smith Ortiz, P.C. because we have:

The Trustee's Role in Your Bankruptcy Filing

Trustees are responsible for several aspects of the bankruptcy process. They review the debtor's petition and, when necessary, bring actions against creditors or the debtor to recover property that belongs to the bankruptcy estate. It is the trustee's responsibility in a Chapter 7 to liquidate the property belonging to the estate and distribute the proceeds to the debtor's creditors.

Chapter 12 and Chapter 13 trustees have duties similar to those of the trustee in a Chapter 7. They are also responsible for overseeing the debtor's payment plan, though. The trustee receives payments from the debtor and distributes those payments to the creditors. The idea behind this role is that it provides a middleman between you and your creditors, possibly eliminating opportunities for deceit from either side.

Get the Support You are Looking for Today

If you are going through bankruptcy and have questions about your appointed trustee's role, you cannot let them go unanswered. The financial stability of you and your family could depend on you understanding the duties of your trustee and how you must interact with them. Additionally, if you are a bankruptcy trustee and need help, you need to take action today to ensure your responsibilities do not fall at the wayside. Let a professional step in and guide you through the entire process.


Contact the Chicago bankruptcy lawyers from Smith Ortiz, P.C. today.


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