The role of a bankruptcy trustee is to act as a neutral third-party in the bankruptcy process and to oversee the administration of the bankruptcy case.
Tag: Trustee
What to know: Filing For Chapter 7 Bankruptcy?
In a nutshell you file a Chapter 7 case by submitting a petition in which you disclose all your assets, debts, income and expenses to the court. The documents are reviewed by a series of Trustee’s and at the end of the proceeding, the bankruptcy court issues an order of discharge, and you are no longer liable for applicable debts.
Bankruptcy and Taxes
To better understand bankruptcy and taxes a little background information is needed; it then becomes more clear why bankruptcy and taxes are so enter twined. First you have to understand that bankruptcy is made possible because of federal laws, and the federal government is made possible because of tax dollars. Why would the government try to give you a perk when you really need the help?
What not to do before bankruptcy
7 Deadly Sins Before Bankruptcy OK I know that sounds a bit dramatic – but it got your attention. I am asked all the time what not to do before bankruptcy. So here is my list of seven things that have the potential to get you into trouble prior to your case filing: 1.Don’t make… Continue reading What not to do before bankruptcy
Bankruptcy trustee
Although the trustee in bankruptcy is not a judge, he or she has tremendous influence over a bankruptcy case. Many of my clients do not know what this person does. So here is the quick version of the role of a bankruptcy trustee in Utah and nationwide. So just who is the bankruptcy trustee? Trustee… Continue reading Bankruptcy trustee
Bankruptcy when married filing individually
If you are married you can file bankruptcy with or without your spouse. Filing bankruptcy without your spouse depends on your assets and your income if it is better for you to file with your spouse or individually. If you are married filing individually, your spouse does not have to attend the 341 creditors meeting… Continue reading Bankruptcy when married filing individually
Bankruptcy for farmers
If you farm you know that times can be tough. Weather, unstable crop prices, equipment failure, price of fuel, crazy government regulations – the problems you deal with everyday can seem endless and overwhelming at times. Sometimes you just need a little bit of help to restructure the operation so you can make ends meet. … Continue reading Bankruptcy for farmers
The bankruptcy where you pay back
Most people do not realize that there are actually five different types of bankruptcy. Most of time when someone hears the word “bankruptcy” they assume you are talking about Chapter 7 bankruptcy the one where you eliminate your debts and possible lose all your assets. The majority of bankruptcy cases filed are this kind of… Continue reading The bankruptcy where you pay back