Chapter 13 Trustee And Its Role In Bankruptcy Discharge

Whenever a person appeals for bankruptcy he or she has to follow certain rules and regulations. There is a well laid out role under chapter 13 trustee which has been codified 1978 under 11 U.S.C. section 1302. As per the broad terms of this role a chapter 13 trustee is appointed by the relevant authorities take care of the case. Only under abnormal circumstances or when there is a conflict of interest between the trustee or the debtor, the person appointed will not continue to perform the role of chapter 13 trustee throughout the entire Read More …

The Types Of Bankruptcies You Could Settle For

Generally there are 2 types of bankruptcies that are made available to consumers, which are the chapter 7 and chapter 13. Let us now take a closer look at each of them, and the specific requirements for filing them. Chapter 7 Also known as straight insolvency, this is the most common kind that is permissible to be filed by the law, by both consumers and businesses alike. To file for this type of foreclosure , your current income needs to be at least at the same level as the median amount set in your given Read More …

How Often Bankruptcy Trustees will Check your Accounts

Bankruptcy Pre Discharge Course The court- appointed trustee in charge of your bankruptcy has got broad powers of reviewing all your bank account’s financial records, while your bankruptcy is still in process. Typically, the trustee can decide to check all your bank accounts each time he or she feels a need, although there are some several key points in your bankruptcy when all your accounts can definitely be under review. This write up will focus on discussing about the various situations that will lead to bankruptcy trustees checking your account. How Often Bankruptcy Trustees will Read More …