What Does a Jacksonville Role of Chapter 7 Trustee & Chapter 13 Trustee Do?
Bankruptcy Trustees play a key role of Chapter 7 bankruptcy and Chapter 13 bankruptcy. The U.S. The U.S. Department of Justice has a Trustee Program. The program is responsible for the hiring and appointment of individual trustees in order to administer bankruptcy cases across the United States. The program supervises the administration and trustees of bankruptcy cases.
It can be useful to know the role of a trustee if you’re interested in filing bankruptcy. You may also find it beneficial to hire a Jacksonville bankruptcy lawyer who is experienced in working with local trustees. They will be familiar with their requirements and preferences when administering Chapter 7 or Chapter 13 cases at the Bankruptcy Court of the Middle District of Florida.
Call The Law offices of Bruner Wright P.A Call 904-432-1200 for a free consultation by one of our Jacksonville bankruptcy attorneys.
In this article our Jacksonville bankruptcy attorney discusses:
- What is the role of Chapter 7 trustee in Jacksonville?
- What is the role of Chapter 13 trustee in Jacksonville?
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What Is the Role of a Chapter 7 Trustee in Jacksonville?
There are a number of Chapter 7 Trustees in the Middle District. The division that is handling your case will randomly assign a trustee to your case. Chapter 7 trustees are assigned randomly to your case by your Jacksonville bankruptcy lawyer.
The Role of Chapter 7 trustee’s includes:
- Examining the bankruptcy petition and schedules. In these documents you will need to disclose your assets and income, as well as any financial transactions. It is the Chapter 7 trustee’s responsibility to check these documents for fraud, completeness, and accuracy.
- The 341 Meeting of Creditors. This is the only court appearance a Chapter 7 debtor attends. The trustee presides over the hearing, and asks the debtor questions about the information in the bankruptcy schedules. The trustee can also ask other questions about the debtor’s finances. The creditors rarely attend this hearing but have the right of appearance and can question the debtor regarding the money they owe.
- If the Chapter 7 trustee feels that the debtor does not qualify for a bankruptcy discharge or exemption, the trustee must file objections. The trustee can also file a complaint to stop a fraudulent financial transaction or transfer.
- The Chapter 7 trustee is responsible for a large portion of the work, which includes reviewing the property of the debtor to determine whether any of it can be sold to pay off some of his unsecured debts. A certain amount of equity can be claimed by the debtor as being exempt. The Chapter 7 trustee cannot use exempt equity as a way to pay creditors. In Florida, most Chapter 7 cases do not involve trustees selling property.
This list of Chapter 7 trustee roles and responsibilities is not exhaustive. During your free consultation, you can ask questions to your Jacksonville bankruptcy lawyer.
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What Is the Role of a Chapter 13 Trustee in Jacksonville
The Middle District of Florida is served by multiple chapter 13 trustees. You or your Jacksonville bankruptcy lawyer cannot control which trustee is appointed as the administrator of your case, just like with Chapter 7 trustees. Chapter 13 trustees receive cases based on the divisions they represent. The Chapter 13 trustee’s duties are similar to those of a Chapter 7 Trustee.
Chapter 13 trustee conducts a 341 Meeting of Creditors and reviews all bankruptcy forms that have been filed with the court. The Chapter 13 trustee’s main responsibility is to review the proposed Chapter 13 plan and determine whether it meets all legal requirements. This includes ensuring the monthly payment amount is calculated correctly.
A Chapter 13 Trustee Is Also Known As:
- Attends confirmation hearings and recommends confirmation of plan or changes to plan.
- Receiving monthly payments and distributing those payments to creditors
- Make sure you have filed your tax returns according to the law.
- Objection to improper claims of creditor filed before the court
- Your financial transactions are investigated to determine whether you have participated in fraudulent conveyances.
- Review your claim exemptions and determine if you have equity in your assets that is not exempt. This could impact the payments for your Chapter 13 plan.
- Review and respond to any motions filed in your case
- If applicable, file objections to the exemption or discharge.
- Prepare and file a full accounting at the conclusion of the Chapter 13 plan.
The Chapter 13 trustee will closely monitor your case during the entire term of the Chapter 13 Plan. Your Chapter 13 plan confirms that you have a number of duties and responsibilities.
Your Jacksonville bankruptcy lawyer will review with you what steps to take in order to successfully complete a repayment plan. We encourage you to call our office at any time during your Chapter 13 proceeding if you need help with financial issues that may affect your case.
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We encourage you to use the consultation that is offered by one of our Jacksonville bankruptcy attorneys.
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Contact us today to schedule a consultation to find out if bankruptcy is the best option. A member of our team will review your case to help you make the right choice. We are focused on consumer bankruptcy. We want you to achieve financial stability.