If you find yourself running short on funds before every payday, you may be wondering what your options are regarding debt relief. At O’Neill Law Firm in La Crosse, WI, a bankruptcy attorney will be happy to sit down with you and discuss your financial situation.

Whether you have inquiries for a child support lawyer or a debt relief attorney, you will find the answers you need at O’Neill Law Firm. Read on for their answers to some of the most frequently asked questions regarding bankruptcy trustees:

A Bankruptcy Attorney Answers FAQs Regarding Trustees

What Is a Trustee?

A bankruptcy trustee’s job is to oversee the bankruptcy estate during proceedings. A trustee’s particular duties vary from case to case, depending on the type of bankruptcy filed and the circumstances regarding the debtor’s financial situation.

What Does a Trustee Do in Chapter 7 Bankruptcy?

During Chapter 7 bankruptcy proceedings, the trustee is responsible for compiling all of the debtor’s assets and selling eligible items from the bankruptcy estate in order to pay back creditors. When necessary, the trustee is also responsible for challenging the claims of various creditors.

What Does a Trustee Do in Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is essentially a reorganization of debt, and the trustee is responsible for reviewing any proposed payment plans that the debtor submits. Once the courts have finalized a payment plan, the trustee must also collect payments and distribute them to the creditors as agreed.

Who Does the Bankruptcy Trustee Represent?

The bankruptcy trustee does not represent the debtor or the creditors. Rather, the trustee is responsible for facilitating financial transactions between the two parties.

If you’re considering filing for bankruptcy, turn to O’Neill Law Firm in La Crosse, WI. Visit their website to learn more about their areas of practice, including family law and criminal defense, and call (608) 519-3551 to schedule a consultation with a bankruptcy attorney today.