What is a Trustee and What Does He/She Do?

The “Bankrupt Estate” consists of all legal and equitable interests you have in property as of the date the case is filed. In Chapter 7 one primary job of the Trustee is to gather all of your non-exempt assets, sell those assets, and distribute the proceeds among all your unsecured creditors. A Trustee is randomly appointed by the Court immediately upon the filing of a Chapter 7 petition. The Trustee is usually a private attorney and is compensated primarily by a percentage of the non-exempt assets he or she is able to collect and distribute to your creditors

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