Bankruptcy Trustee

| Jul 13, 2010 | Bankruptcy |

A bankruptcy trustee in either a Chapter 7 or Chapter 13 bankruptcy is appointed by the U.S. Trustees Office.  One of the chief jobs that a bankruptcy trustee has under either chapter is to look and see if the debtor who filed bankruptcy has any non-exempt asset that can be sold to fully or partially satisfy the claims of the creditors who would otherwise be discharged.

Another job that the trustee who is appointed has is to make inquiry as to whether or not there have been any fraudulent transfers to the detriment of the creditors.
In a Chapter 13 bankruptcy, the trustee also has the duty to review the proposed Plan that the debtor files, and make a recommendation as to whether or not the Plan is feasible for the debtor to make.