Chapter 7 Bankruptcy

Chapter 7 Trustee Definition

Chapter 7 Trustee - the Chapter 7 trustee is the individual appointed by the office of the United States Trustee to oversee and manage potential assets in the bankruptcy case. In a case where the debtor has assets that are not exempt, the trustee will liquidate or sell those assets and distribute the funds [...]

2021-01-13T20:28:09+00:00February 1st, 2014|Chapter 7 Bankruptcy, Glossary|

Non-Exempt Property

Some people own property that cannot be protected in bankruptcy (non-exempt property). One option for property that is not exempt is the possibility of “buying back” non-exempt property from the trustee in a Chapter 7 bankruptcy. This is where the debtor has exempt funds available that can be used to "bid" on his own [...]

2021-03-03T23:13:15+00:00January 28th, 2014|Chapter 13 Bankruptcy, Chapter 7 Bankruptcy|
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