The Role of the Bankruptcy Trustee
When individuals file for bankruptcy, a trustee is appointed to administer the proceeding and represent the creditors in the process. Trustees are usually attorneys or accountants who are appointed by an official at the Department of Justice, but are not typically considered to be employees of the government.
Bankruptcy trustees usually collect their fees from the initial filing fee charged at the beginning of the process. It is the role of the trustee to manage the paperwork and try to obtain as much money for the creditors as possible. If you have questions regarding the bankruptcy process, contact the Austin bankruptcy attorneys of Slater, Kennon & Pugh Ltd.LLP at 512-338-1100.
The Bankruptcy Trustee's Duties
During the bankruptcy proceedings, the trustee is usually required to:
- Administer the first meeting of creditors and discuss the overall case with them
- Raise any objections to discharged debts
- Liquidate any non-exempt property
- Collect and distribute money owed on a repayment plan
- Organize and update bankruptcy documents
The bankruptcy judge is the ultimate figure of authority during a bankruptcy proceeding and is the one who determines which debts may be discharged and which ones require repayment. The trustee is allowed to dispute discharged debts but cannot act against the wishes of the judge.
Contact an Austin Bankruptcy Lawyer
If you or someone you love is considering filing for bankruptcy, consult an experienced Austin bankruptcy lawyer of Slater, Kennon & Pugh Ltd.LLP at 512-338-1100 to discuss your options.