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Bankruptcy

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A bankruptcy trustee is a person or entity who is independent of the bankruptcy court and is appointed to oversee your bankruptcy case. A bankruptcy trustee is appointed in most every case—except in Chapter 11 reorganizations and Chapter 9 municipality cases. The bankruptcy trustee is responsible for reviewing your bankruptcy forms, investigating and verifying your financial information, and making sure your bankruptcy filing is not fraudulent.

In Pennsylvania, as in other states, a bankruptcy trustee is an independent party appointed to oversee bankruptcy cases, with the exception of Chapter 11 reorganizations and Chapter 9 municipality cases. The trustee's role is to review the bankruptcy forms submitted by the debtor, investigate the financial information provided, and ensure that the bankruptcy filing is legitimate and free of fraud. The trustee also has the responsibility to manage the assets of the bankruptcy estate, which may involve liquidating assets in a Chapter 7 case or overseeing a repayment plan in a Chapter 13 case. The trustee acts as an intermediary between the debtor and the creditors, and their duties are defined under federal bankruptcy law, as the bankruptcy process is governed by federal statute rather than state law. However, state law, including Pennsylvania statutes, can influence certain aspects of the bankruptcy process, such as exemptions that debtors are allowed to claim.

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Bankruptcy

trustee

Individual & Family Legal Plan

Articles

Pennsylvania State Code

Bankruptcy

trustee

Pennsylvania State Code

Articles