Bankruptcy Trustee

While Filing for Bankruptcy Avoid Making These Mistakes

Bankruptcy can change the way you live. However, if you want it to not affect your life negatively, it is important to know what to avoid prior to filing for bankruptcy. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, many people skirt around bankruptcy laws in order to protect their assets. It is important to understand that the bankruptcy court does not approve of certain tactics, usage of which might result in the dismissal of your bankruptcy petition or filing of criminal charges against you. the latter might cost you dearly, not just [...]


Know your Bankruptcy Trustee in Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy trustee is appointed by the court for every Chapter 7 bankruptcy filed with them. These trustees mostly work in favor of the creditors. The prime responsibility is to go over all the paperwork to ensure that they have been submitted in order, to reverse any recently performed financial transactions that may be invalid in the context of bankruptcy and for liquidating viable assets in order to repay the creditors. A bankruptcy trustee is paid a fee by the court for examining all the associated paperwork. In addition to this, if the trustee is able [...]