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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 South Dakota, as in other states, a bankruptcy trustee plays a crucial role in the bankruptcy process for Chapter 7 and Chapter 13 cases. The trustee is an independent administrator appointed by the court or the U.S. Trustee Program to oversee the case. Their responsibilities include reviewing the debtor's bankruptcy forms and financial information, ensuring that the bankruptcy filing is accurate and not fraudulent, and managing the sale of the debtor's non-exempt assets in a Chapter 7 case. In a Chapter 13 case, the trustee also oversees the debtor's repayment plan, collecting payments from the debtor and distributing them to creditors. Trustees are not involved in Chapter 11 reorganizations, which are typically for businesses and certain high-debt individuals, or Chapter 9 municipality cases. The role of the trustee is to act as a neutral party to ensure that the bankruptcy process is conducted fairly and in accordance with federal bankruptcy laws and applicable South Dakota statutes.

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Bankruptcy

trustee

Individual & Family Legal Plan

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South-Dakota State Code

South-Dakota State Code

Bankruptcy

trustee

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