Bankruyptcy Lawyer, Columbia SC

Who is a bankruptcy case trustee?

A bankruptcy trustee is appointed in all Chapter 7, 12, and 13 cases and in some Chapter 11 cases. The trustee administers the bankruptcy estate and presides at the first meeting of creditors (also called the “section 341 meeting”). In a Chapter 7 case, the trustee liquidates the debtor’s non-exempt assets by collecting and selling non-exempt estate property. In a Chapter 13 case, the trustee collects money from the debtor over a period of years and distributes it to creditors according to the debtor’s repayment plan. The trustee can require the debtor to provide information and documents before, after, or at the meeting of creditors.