What Does the Bankruptcy Trustee Do?
After your bankruptcy case is filed, it is assigned a bankruptcy trustee. What does the bankruptcy trustee do? Depending on if the case is Chapter 7 or 13, the trustee will inspect your case for accuracy and compliance with Federal Law. In a Chapter 7 case, if there are assets to distribute, the trustee contacts creditors and distributes funds. In a Chapter 13 case, the trustee also receives your monthly payments and distributes money monthly to creditors.
What Information Does a Trustee Have Access To?
In short, just about anything they want. All debtors have a duty to cooperate with their trustee, and the trustee has power compel, through the courts if necessary, you to turn over all kinds of detailed financial records. I have seen trustees force debtors to produce YEARS of financial records. This doesn’t happen often. Trustees operate based on rules set out by the Department of Justice.
Looking for More Articles on Bankruptcy?
Looking for more insight and articles on Bankruptcy? Head over to the Bankruptcy Learning Center for more information.
Visit the Bankruptcy Learning CenterWhat Information are You Required to Give to The Trustee?
In the Southern District of Ohio, there is a complete list of the documents debtors much provide, in advance, to the trustee in every bankruptcy case filed. These are court orders, called local rules. At a minimum, you’ll have to provide bank records, car titles, deed and mortgage, retirement account info, life insurance information, and at least 6 months of income proof, as well as tax returns. There could be more required of you once the trustee sees this information.
In my office we have an elaborate system of checklists and inspections to be sure we have all of this information. We carefully review it, to see if there is anything present that might create a problem for our clients. Sometimes we spot things that raise questions. You never want to go into the meeting with the trustee unprepared!
Does the Bankruptcy Trustee Check Your Bank Account?
Do Bankruptcy Trustees Investigate?
Share This Article
Our Legal Services
Bankruptcy Learning Center
- Bankruptcy Can End a License Suspension
- Bankruptcy Individual vs Joint
- Can the Self Employed File Bankruptcy?
- Chapter 7 vs Chapter 13
- Cash Advance and Bankruptcy
- Debt Consolidation vs Bankruptcy
- Divorce and Bankruptcy
- Divorce and Chapter 7
- Divorce and Chapter 13
- Divorce Chapter 7 vs Chapter 13
- How to Keep Your Car
- How to Keep Your Pets in Bankruptcy
- How to Keep Your Property
- How You Can Loose Your Retirement
- Is Chapter 7 or Chapter 13 Better?
- Judgment Proof vs Bankruptcy
- Liens in Bankruptcy
- Military Bankruptcy
- Payday Loans and Bankruptcy
- Life After Bankruptcy
- Chapter 13 vs Loan Modification
- Short Sale vs Bankruptcy
- Small Business Bankruptcy
- Stop Lawsuits with Bankruptcy
- What is an Automatic Stay?
- What is a Bankruptcy Exemption?
- What To Do if You Lost Your Job
- What Does the Bankruptcy Trustee Do?
- Tax Debt and Bankruptcy
- The Downside of Filing Bankruptcy
- The Pros & Cons of Filing Bankruptcy
- The Truth About Bankruptcy
Useful Calculators
Here are two helpful calculators for managing your debt repayments and Chapter 13 commitments.