debtor can avail exemption

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 [...]