Tampa Bankruptcy Attorneys Explain the Role of the Trustee in a Bankruptcy Filing
If serious financial problems have forced you to consider filing for bankruptcy, this emotional, often complex process can easily become overwhelming. Finding courteous, experienced Tampa bankruptcy attorneys to handle your case and answer your questions is a great start, as the right legal professionals can help make this process as smooth as possible. If you are considering filing for either Chapter 7 or Chapter 13 bankruptcy, one of the questions you might have is this – what is the role of the trustee in my bankruptcy proceedings?
As your Tampa bankruptcy attorneys will tell you, when filing for Chapter 7 or Chapter 13 bankruptcy, a trustee will be assigned to your case. This impartial party will be responsible for administering the case, and depending on which chapter you are filing, their responsibilities may vary slightly.
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In a Chapter 7 bankruptcy, the trustee will be tasked with gathering and liquidating your non-exempt assets in a fashion that ensures your unsecured creditors will receive the maximum return.
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In a Chapter 13 case, the trustee's role will be to determine how feasible your repayment plan is, as well as to collect your payments and distribute them to your creditors.
As you can see, the trustee in a Chapter 7 or Chapter 13 bankruptcy plays a vital role throughout the process. In addition, hiring the right Tampa bankruptcy attorneys to handle your case can also make a major impact on your situation.
If you'd like more information about the role of a trustee in your case, or have any other questions, contact the Tampa bankruptcy attorneys at Yesner & Boss, P.L. today to set up your free consultation.
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