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,i~ E
THE ROL OF A CHAPTER 7
BANKRUPTCY TRUSTEE
As you get started with Chapter 7
bankruptcy,  the court will appoint a
trustee to handle your case
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. ... .
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-....
You will file a petition,  along with
many other documents,  all of which
are reviewed by your trustee
This person is responsible for
collecting and Verifying the
information
A HEARING WITH THE TRUSTEE
One month after filing,  you will
attend a hearing with your Chapter
7 bankruptcy trustee
This is known as a 341(a)
meeting of creditors
‘ _.  R ' ~; _..  I
LIQUIDATING NONEXEMPT ASSETS
During the Chapter 7 bankruptcy
process,  the trustee will only take
non-exempt assets.  Your lawyer
can advise you in adv...
Your trustee will only attempt to sell
assets which are not exempt.  Under
Federal law as well as state law,  you
are enti...
__

PROVIDE GUIDANCE

‘J
While you cannot expect the trustee
to be on your side,  your bankruptcy
attorney will be able to provide you
with answers...
It is common to be stressed during
the bankruptcy process,  however, 
you must trust the trustee to do his
or her job.
Remember,  you have an attorney on
your side to handle any problems
you may run into
HIRE AN ATTCRNEY
With a bankruptcy attorney working
on your behalf,  you should never be
concerned that your trustee will
make a mistake or...
Your attorney will be looking out for
your best interests
HAJPER 7
BANKRUPTCY TRUSTEE IN

LEARN MoRE ABoUT C

PHILADELPHIA
DAVID M.  OFFEN K  

BANKRUPTCY ATTORNEY

  

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The Role of a Chapter 7 Bankruptcy Trustee in Philadelphia

As you get started with Chapter 7 bankruptcy, the court will appoint a trustee to handle your case. Learn more about chapter 7 bankruptcy trustee in Philadelphia in this presentation.

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The Role of a Chapter 7 Bankruptcy Trustee in Philadelphia

  1. 1. ,i~ E THE ROL OF A CHAPTER 7 BANKRUPTCY TRUSTEE
  2. 2. As you get started with Chapter 7 bankruptcy, the court will appoint a trustee to handle your case
  3. 3. 'Ji1 -. -ua-1 . -.-- 4--oo-s. -. ... _ . ---. .-. .——-. . . ... . . ;.; an uao. .A. -.A. AJA. AJ AAA; .. a.4.. . -. ..olll O n REVIEW THE BANKRUPTCY PETITION
  4. 4. You will file a petition, along with many other documents, all of which are reviewed by your trustee
  5. 5. This person is responsible for collecting and Verifying the information
  6. 6. A HEARING WITH THE TRUSTEE
  7. 7. One month after filing, you will attend a hearing with your Chapter 7 bankruptcy trustee
  8. 8. This is known as a 341(a) meeting of creditors
  9. 9. ‘ _. R ' ~; _.. I LIQUIDATING NONEXEMPT ASSETS
  10. 10. During the Chapter 7 bankruptcy process, the trustee will only take non-exempt assets. Your lawyer can advise you in advance if the trustee will attempt to take any assets. In about 98 percent of cases (49 of every 50 cases), the trustee does not take any property.
  11. 11. Your trustee will only attempt to sell assets which are not exempt. Under Federal law as well as state law, you are entitled to substantial exemptions. These are used to protect your property so that the trustee cannot take your property.
  12. 12. __ PROVIDE GUIDANCE ‘J
  13. 13. While you cannot expect the trustee to be on your side, your bankruptcy attorney will be able to provide you with answers to your questions and guidance as to how things will unfold.
  14. 14. It is common to be stressed during the bankruptcy process, however, you must trust the trustee to do his or her job.
  15. 15. Remember, you have an attorney on your side to handle any problems you may run into
  16. 16. HIRE AN ATTCRNEY
  17. 17. With a bankruptcy attorney working on your behalf, you should never be concerned that your trustee will make a mistake or “pull one over on you. ”
  18. 18. Your attorney will be looking out for your best interests
  19. 19. HAJPER 7 BANKRUPTCY TRUSTEE IN LEARN MoRE ABoUT C PHILADELPHIA
  20. 20. DAVID M. OFFEN K BANKRUPTCY ATTORNEY vvvvw. getfre ;

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