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Morristown Bankruptcy Blog

What a Chapter 13 trustee does for you

When you file for Chapter 13 bankruptcy in New Jersey, you can expect to deal with a trustee throughout much of the process. The duties of a trustee are going to be different depending on the type of bankruptcy. Under Chapter 7 bankruptcy, per FindLaw, the trustee would be handling the liquidation of the debtor’s property and paying the creditors the proceeds. But since Chapter 13 bankruptcy does not involve liquidation, the duties of a trustee under Chapter 13 will be different. Instead, you can expect a Chapter 13 trustee to primarily be concerned with taking care of your debt payments.

Once you have completed a plan to repay your creditors, the trustee will look over it. If the trustee has any problems with the plan, the trustee will bring these objections to your attention. Afterwards, when the plan is ready, it will be submitted to the bankruptcy court for approval. Once the repayment plan is approved, the trustee will take charge of receiving money from you, which will be distributed to your creditors according to the conditions of the plan.

Are you experiencing creditor harassment? You can fight back.

Owing a significant amount of debt can be overwhelming. It can lead to significant stress in many areas of your life, especially if you are also experiencing harassment from creditors and debt collectors. While phone calls and other types of contact from creditors are normal, there are times their behavior goes over the line and violates your rights. 

Harassment from creditors is not only stressful and frustrating, but it is also illegal. You may think this is something you have to deal with because you owe a significant amount of debt, but this is not true. No matter how much you owe or what types of debt you have, you do not have to put up with threats and other types of harassment. You can speak out against this treatment and seek a beneficial outcome to your current financial situation.

Ast & Schmidt, P.C.

Ast & Schmidt, P.C.
222 Ridgedale Avenue 3rd Floor
P.O. Box 1309
Morristown, New Jersey 07962

Phone: 973-984-1300
Fax: 973-984-1478
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