9/07
Who is the trustee?
When you file bankruptcy under Chapter 7, 12, or 13, a trustee will be appointed to oversee your case. The trustee is not the judge, he or she is not even required to be a lawyer (although they all are in Eastern Missouri).
A Chapter 7 trustee is appointed by the Office of U.S. Trustee from a panel of individuals who have been previously qualified by the government. A Chapter 7 trustee is charged with holding the initial hearing in your case, investigating the assets and transfers of a debtor, and recovering any property that can be used to pay creditors, liquidating it and then paying the claims of the creditors.
A Chapter 13 trustee is normally a "Standing Trustee" meaning he or she is either the single or one of only a few trustees who are assigned all Chapter 13 cases. In Eastern Missouri there is currently only one Standing Chapter 13 Trustee, John V. LaBarge, Jr. His job includes all the general obligations of a trustee although he typically does not take property for liquidation. Instead he takes payments periodically from the debtor to be paid to creditors pursuant to the confirmed Chapter 13 plan. He is also responsible for assuring the repayment plan complies with the law, is feasible, and that everyone performs as required under the plan.
A Chapter 12 trustee performs essentially the same functions as a Chapter 13 trustee based on the repayment plan proposed by the debtor and approved by the court.
All trustees are paid from the money they collect to repay creditors on a commission basis. They may also be entitled to a small commission from the filing fees paid in a case.
The trustee is obligated to verify the truthfulness of sworn statements in a case and investigate the transactions of the debtor in order to assure complete disclosure. Therefore, the trustee is often required to ask detailed questions and "pry" into things which may not always seem obviously necessary. They typically do not enjoy this anymore than you do!
A Chapter 7 trustee is appointed by the Office of U.S. Trustee from a panel of individuals who have been previously qualified by the government. A Chapter 7 trustee is charged with holding the initial hearing in your case, investigating the assets and transfers of a debtor, and recovering any property that can be used to pay creditors, liquidating it and then paying the claims of the creditors.
A Chapter 13 trustee is normally a "Standing Trustee" meaning he or she is either the single or one of only a few trustees who are assigned all Chapter 13 cases. In Eastern Missouri there is currently only one Standing Chapter 13 Trustee, John V. LaBarge, Jr. His job includes all the general obligations of a trustee although he typically does not take property for liquidation. Instead he takes payments periodically from the debtor to be paid to creditors pursuant to the confirmed Chapter 13 plan. He is also responsible for assuring the repayment plan complies with the law, is feasible, and that everyone performs as required under the plan.
A Chapter 12 trustee performs essentially the same functions as a Chapter 13 trustee based on the repayment plan proposed by the debtor and approved by the court.
All trustees are paid from the money they collect to repay creditors on a commission basis. They may also be entitled to a small commission from the filing fees paid in a case.
The trustee is obligated to verify the truthfulness of sworn statements in a case and investigate the transactions of the debtor in order to assure complete disclosure. Therefore, the trustee is often required to ask detailed questions and "pry" into things which may not always seem obviously necessary. They typically do not enjoy this anymore than you do!
