It is only normal for a trustee to hire a lawyer when there are potential assets or potential issues to be litigated. The trustee hires a lawyer to file documents with the court, investigate transactions, get sales of property approved, object to inappropriate exemptions, etc. A trustee has a lot of power.
May 19, 2021 · In many situations, the Trustee will hire an attorney to represent the interest of the bankruptcy estate. It is nothing very unusual. Here, I would suspect that the trustee is seriously considering filing a denial of discharge proceeding against the debtor, which is …
Dec 10, 2018 · This bankruptcy seems to be threatening my ability to purchase a home as well due to the homestead exemption, and the funds being tied up in the case. My concern is also that the trustee's attorney will rack up HUGE fees that my attorney said I would be responsible for paying. My attorney said dismissal is unlikely as well, even though I have ...
The trustee in a Chapter 7 bankruptcy case does have lots of power. The trustee can hire an attorney to pursue claims. The trustee can hire an attorney to take depositions, issue subpoenas, and file lawsuits. The trustee can demand that you turn over various documents and if you don’t do so, you can face severe penalties and even criminal action.
The trustee would hire an attorney to reverse that. Impossible to give all the circumstances, but generally when a dispute arises in the course of a bankruptcy proceeding, the trustee would hire an …
The overarching duty of the trustee is to collect and liquidate the property of the estate and to distribute the proceeds to creditors.May 30, 2010
United States Trustees appoint and supervise private trustees who administer bankruptcy estates under chapters 7, 11, 12, and 13 of the Bankruptcy Code. Private trustees are not government employees.Mar 25, 2021
The trustee can revoke your discharge. If the trustee finds hidden assets, the trustee can ask the court to revoke or take back your discharge. The trustee can do this at any time before the case closes or, even after, up to one year after the discharge date.
Common Bankruptcy Trustee QuestionsDid you review your bankruptcy petition and schedules before you filed them with the court?Is all of the information contained in your bankruptcy papers true and correct to the best of your knowledge?Did you disclose all of your assets?
Your bankruptcy trustee can ask for up to two years of bank statements. The trustee will look at your statements to verify your monthly payments to make sure they match the expenses you put on your bankruptcy forms.Dec 6, 2021
In both Chapter 7 and Chapter 13 bankruptcies, it's the trustee's duty to review your bankruptcy forms and investigate and verify your financial information. One of the trustee's responsibilities in doing this is to make sure your bankruptcy claim is not fraudulent.Nov 20, 2020
The bankruptcy trustee usually reviews your assets based on the information contained in your bankruptcy paperwork and the information from your bankruptcy hearing. However, the bankruptcy trustee does have the option to personally inspect your home and your assets.Nov 14, 2012
Everything you own or have an interest in is considered an asset in your Chapter 7 bankruptcy. In other words, all your belongings are “assets” even if they're not really worth much. That doesn't mean that the bankruptcy trustee will sell everything you have, though. Far from it.Oct 16, 2020