Business05 Mar 2010 11:50 am
What the Bbankruptcy Trustee Does
In a Chapter 7 bankruptcy filing, a US court trustee is assigned to your case to review your petition, and later examined you under oath at a meeting of the creditors. This meeting is called the 341 meeting. At this meeting, it’ll be the trustee’s job to see that all the information in the petition is true and complete, and that you are not hiding anything or left anything out, on purpose or accidentally. The Bankruptcy trustee will then review your assets to see if there are any assets that they can seize and sell. They can seize an asset where there is no lien against it or the lien is less than the value of the asset.
