If you are filing for Chapter 13 bankruptcy, you may have learned that the court will be appointing a trustee to your case. The name of your trustee will be included in the notice you receive from the court on the meeting of creditors. At the Law Office of Kim Covington, we are aware that knowing the job duties of a trustee can help you understand more about the processes of your bankruptcy.
According to the Cornell University Law School’s Legal Information Institute, the trustee in your Chapter 13 bankruptcy case represents your estate, which is the sum of your assets minus your liabilities. The primary function of this person is to investigate your finances, take the payments that you are required to make and distribute these to your creditors based on the plan that the court has approved.
The trustee is responsible for ensuring that you and your creditors are being honest with the court. If the trustee believes that you have provided false information to the court about your finances, he or she may file an objection to your bankruptcy discharge. It is also illegal for you to transfer property to another person so you do not have to include it in the bankruptcy. The trustee may choose to investigate proofs of claims made against you and object if any of these are found improper.
Information about your estate and its administration can be provided to a person or company who may benefit from the results of your case, such as a creditor. The trustee may give that information unless there is a court order that it may not be shared. For more information on the role of a trustee, please visit our website.