Everyday spending, bills and obligations make people lose track of how much they have spent and when they have reached the limit. Suddenly using the credit cards, enjoying life and irrational spending becomes a problem. People are calling you on the phone, coming to your door asking for money. Not seeing any other option you decide to declare a bankruptcy, a new chance to start over.
But What’s next? How to declare a bankruptcy? Where to ask for help?
Have you heard about bankruptcy trustee? This is a very important question since many people haven’t heard about it. So here is a brief explanation about what bankruptcy trustee is and what his roles are.
First, we need to make clear what a Trustee is.
A trustee is a person who holds property in trust for another. Sometimes it is an organization that has been given responsibility for managing someone else property or money through a trust. There are different types of trustees, for example a charity trustee, bankruptcy trustees, corporate trustees, public trustees, bare trustees and so on.
Second, let’s explain what a bankruptcy trustee is and why we should go to him?
So if we decide to go ahead with bankruptcy, we should consider visiting a bankruptcy trustee and talking to a professional to help us with our debt problems. But why?
Because they are professionals who have a complete technical training regarding the debt and debt issues. They are familiarized with this kind of situations, they manage and oversee the bankruptcy of each individual or business, and are the debtor’s main contact.
The trustee is appointed by the regional office of the United States Trustee, and is often a bankruptcy attorney, but can be another person who is experienced in business, such as accountants, bankers, insurance agents, appraisers, real estate brokers, or investment brokers.
A bankruptcy trustee’s duties vary depending on the type of case, as well as the circumstances of a particular debtor and their creditors.
Here is a short list of them:
- Reviewing your situation and counseling you on available alternatives. The earlier you talk to a bankruptcy trustee about your situation, the more likely it will be that you will be able to solve your debt problems without declaring bankruptcy.
- Ensuring that the creditor’s claims about what you owe are valid.
- Selling your assets.
- Evaluating your conduct both before and during a bankruptcy, as well as the cause(s) of the bankruptcy.
- Give you a protection from your creditors to stop collection calls or any other legal actions.
- Making the application for your discharge from bankruptcy, that will release you of your debts and give you a fresh start.
Declaring bankruptcy is not always the only way out, but sometimes is inevitable, if that’s the case it is best to find a good bankruptcy trustee who will lead you through the process, who will help you to start over, this time better, this time with a lesson learned.
Follow the above tips to make sure you get the best service from your Bankruptcy Attorney or may find Chapter 7, 12 and 13 Private Trustee, which are subject to supervision by the United States Trustees. If you are still uncomfortable to find the right one you may contact Marc Aaron Goldbach – Attorney at Law @Goldbachlaw to seek his advice.