How A Bankruptcy Attorney Can Assist You In Handling Your Trustee

When you are filing for Chapter 7 bankruptcy, one of the most important individuals you'll work with is your trustee. It's important to work with a Chapter 7 bankruptcy attorney as soon as possible so you can receive advice on how to work with your bankruptcy trustee and how to move forward with your bankruptcy.

The Trustee Plays an Important Role in Your Bankruptcy

You will need a trustee to manage the estate of your bankruptcy. When you file for bankruptcy, an estate forms and the trustee is responsible for managing it. This is to ensure that the estate is managed properly and that all of your creditors are paid.

Some of your property will be considered exempt, and other forms of your property will be considered to be a part of the estate. Your attorney will help you understand why some property is exempt and will also explain how you might be able to help justify having some pieces of property listed as exempt.

The Trustee Decides How Your Assets Are Liquidated

With Chapter 7, your assets are liquidated. This requires that property that is not exempt is instead sold and that the profits become a part of your estate. The profits are used to pay off your creditors. The trustee is responsible for determining which of your creditors will be paid and how much.

When filing for bankruptcy, there are several parties who might emerge and lay claim to a right to a portion of your estate. A trustee will vet each party and will make sure that they have a valid claim to your property.

Don't Let Your Bankruptcy Be Dismissed

Because of the power that the trustee has, you will want to do everything you can to avoid problems, and a bankruptcy attorney can help you with this. Otherwise, the trustee might file a motion to have your bankruptcy dismissed, and you might not be able to file again. For example, you must make sure that all required documents are filed.

In addition to having your case dismissed, you might also have monetary sanctions levied against you. Depending on the circumstances, you might also be barred from filing in the future. However, when you are working with a Chapter 7 bankruptcy solutions service, your attorney will make sure that you are meeting all of the requirements and will make sure that nobody involved in your case has any questions that haven't been answered.

Contact a law firm like Alleyne Law Firm, PLLC for more information.