Chapter 13 Bankruptcy Trustee
Chapter 13 bankruptcy differs from Chapter 7 bankruptcy due to the fact that during a Chapter 13 reorganization bankruptcy, debtors keep their property. The trustee’s role, in this case, is to review and administer the Chapter 13 plan to creditors on the debtor’s behalf. The trustee is in charge of:
- Reviewing the debtor’s repayment plan
- Objecting to the plan, as appropriate
- Collecting payments from the debtor
- Distributing payments to the collector
Though the bankruptcy trustee can greatly influence what occurs during the proceedings, it’s important to note that they do not make final decisions. Any decision the trustee makes that the debtor does not agree with can be presented to the judge for further review.
Know Your Rights Regarding Bankruptcy Trustees
Although it might seem like all parties are against you when you file bankruptcy, that’s not true. A bankruptcy trustee is a logistically neutral party that is present only to ensure the process is carried out according to law. In complicated bankruptcy cases, however, meeting with a bankruptcy trustee may feel intimidating. It’s important to have someone on your side who understands the bankruptcy trustee’s role and the interests he serves. Those who attain legal representation in bankruptcy ensure they protect their own interests throughout the extensive process.
Knowledgeable Bankruptcy Attorneys Near You
Bankruptcy attorneys exist to help you through the bankruptcy process. If you’re filing for bankruptcy, you don’t have to go through it alone. A knowledgeable bankruptcy attorney understands both Chapter 7 and Chapter 13 bankruptcy and everything else that goes along with filing for either one – including bankruptcy trustees.
In the state of Louisiana, there’s no better bankruptcy team than the lawyers at E. Orum Young Law. Trusted and knowledgeable, E. Orum Young Law houses expert bankruptcy law attorneys who can be with you every step of the way. Some of the E. Orum Young Law Firm attorneys are members of the National Association of Consumer Bankruptcy Attorneys. We have more than 35 years of experience and have filed the most bankruptcies in Northeast Louisiana. Contact us at (318) 450-3192 for a free case evaluation.