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Bankruptcy courts appoint a trustee to represent the interests of the creditors and administer the cases. The U.S. Trustee [3] appoints Chapter 7 trustees for a renewable period of 1 year, Chapter 13 trustees are "standing trustees" who administer cases in a specific geographic region.
The U.S. Trustee's office conducts the first meeting of creditors in a Chapter 11 case. Most Chapter 11's do not require the appointment of a trustee: however, in those cases which do, the U.S. Trustee oversees the appointed trustee's handling of the case and, for good cause, can seek the removal or replacement of the trustee.
Since the 1990s, duties similar to those of a trustee are sometimes performed by an individual called a Chief restructuring officer (CRO), generally prior to, or subsequent to, a bankruptcy proceeding (generally, a Chapter 11 proceeding). A CRO is an official of the company who has direct contact with the creditors and who has executive power ...
Trustee fees: Chapter 13 trustees collect a percentage from your monthly payments, up to 10 percent, though it often ranges between 5 and 8 percent. Chapter 13 bankruptcy alternatives
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
Filing Chapter 13 immediately after Chapter 7 is also referred to as Chapter 20 bankruptcy. You won’t receive a discharge when filing Chapter 20 since you aren’t waiting the full four years.
When a case under Chapter 7 of the Code is commenced, the United States Trustee immediately appoints an interim trustee for that case. [1] The most important immediate duty of the interim trustee is to conduct the first meeting of creditors (sometimes called the "341 meeting"), at which the bankrupt person is required to appear and respond to ...
The Address Book in Desktop Gold helps you keep track of email addresses, phone numbers, mailing addresses, birthdays, and anniversaries of your contacts. You can sort your Address Book by last name, first name, email address, screen name, telephone number, or category. Just use the Quick Find box to easily search through your contacts. Add a ...