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Trustees and Bankruptcy in Georgia

Augusta GA Bankruptcy Attorney

When you file for bankruptcy, the court will issue you a Trustee. If you file for Chapter 7 bankruptcy, your appointed Trustee will organize your property into exempt and non-exempt property. The Trustee will then oversee the selling of the non-exempt property and use the sale proceeds to pay back your debts. The primary role of a Chapter 7 trustee in an asset case is to liquidate the debtor's nonexempt assets in a manner that maximizes the return to the debtor's unsecured creditors.

 

To accomplish this, the trustee attempts to liquidate the debtor's nonexempt property, that is, property that the debtor owns free and clear of liens and the debtor's property that has market value above the amount of any security interest or lien and any exemption that the debtor holds in the property. In addition, if the debtor is a business, the bankruptcy court may authorize the trustee to operate the debtor's business for a limited period of time, if such operation will benefit the creditors of the estate and enhance the liquidation of the estate.

 

If you file for Chapter 13 bankruptcy, the Trustee will work with you to prepare your repayment plan. The Trustee will be your liaison between you and the bankruptcy court, and will oversee the reorganization of your debt.

 

You must begin making payments under your Chapter 13 repayment plan within 30 days after you file it with the bankruptcy court. Usually, you make payments directly to the bankruptcy trustee. Once your repayment plan is confirmed, the trustee will distribute the money to your creditors.

 

We are bankruptcy attorneys based in Augusta, GA. We serve clients in Augusta, Georgia and throughout the CSRA, including Columbia and Richmond County. We can help you file for bankruptcy.