CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

What You Can Expect from the Bankruptcy Trustee During and After Bankruptcy

What You Can Expect from the Bankruptcy Trustee During and After Bankruptcy

When you file for bankruptcy a trustee is assigned to your case. This person is not there to help you. As a matter of fact, the trustee’s main responsibility is to take money and assets from you and pass it along to your creditors. The more money that is taken for creditors the more the trustee gets in payment.

What does this mean if you’re filing for bankruptcy?

Understanding the Role of the Bankruptcy Trustee

It’s important to understand the role the trustee plays because many people assume the trustee is someone on their side during the process.

What the trustee does and doesn’t do depends on the chapter bankruptcy you choose, but you should never assume this person is working for you. They are not.

If you have no assets and you file for bankruptcy, the trustee’s job is to review the paperwork and facilitate the meeting of creditors. This is the time when creditors can dispute your claims and fight for the money they are owed. It can be an intimating phase of your bankruptcy, but your attorney attends with you and for most people, it concludes without incident.

After the meeting, the trustee submits a report to the court and the case moves forward. Soon after, your debts are discharged and your Chapter 7 bankruptcy is complete.

You can learn more about the meeting of creditors in this explanation from The Balance.

On the other hand, if you file for bankruptcy and you do have assets, the trustee’s job is to recover as many of them as possible. Any asset that is not exempted in your bankruptcy can be taken by the trustee, which is why it’s so important to work with an attorney who understands how and what to exempt.

It’s important to keep in mind that this asset recovery performed by the trustee isn’t necessarily concluded once your debts are discharged. In some cases, trustees have months or years to recover assets.

And as much as you’d like to run in the opposite direction of the trustee, you’re legally obligated to cooperate, provided the trustee is acting within the letter of the law. You must turn over important documents and any funds the trustee requests, as long as it’s legally required.

Trustees are Paid Out of the Money Recovered from You

One of the most important things to remember, especially if you feel like a bankruptcy trustee is working on your behalf, is that trustees earn their money based on what they recover from you.

In addition to a small portion of your bankruptcy filing fee, a trustee’s commission is a percentage of what they are able to distribute to your creditors. This amount varies from case to case based on the amount they recover, but the bottom line is they are going to work hard and hustle to get as much as possible for your creditors because a significant chunk of that goes into their pocket.

If you have questions about bankruptcy trustees or you are concerned nobody will be in your corner defending your rights during your bankruptcy, we can help. Contact the Law Office of Robert M. Geller at 813.254.5696.

Tampa Bankruptcy Law Blog

Tips for Protecting Your Home in Chapter 13 Bankruptcy

Tips for Protecting Your Home in Chapter 13 Bankruptcy

Protecting a Home in Chapter 13 Bankruptcy Protecting a home is one of the primary reasons people file for Chapter...
Read More
Is It OK to Schedule a Yard Sale before Filing for Bankruptcy: How Selling Your Stuff Can Get You into Trouble

Is It OK to Schedule a Yard Sale before Filing for Bankruptcy: How Selling Your Stuff Can Get You into Trouble

Transferring or selling assets before bankruptcy There are plenty of ways someone dealing with financial problems can make money and...
Read More

Why Might Chapter 13 Be Unsuccessful?

Chapter 13 Bankruptcy Failures Filing for bankruptcy can be one of the smartest decisions you ever make and bring massive...
Read More

What to Do If You Skip a Creditor When Filing for Bankruptcy

Bankruptcy Schedule Mistakes Mistakes are made all the time in life, but when you make a mistake in bankruptcy it...
Read More
How Much Time Will Your Bankruptcy Take?

How Much Time Will Your Bankruptcy Take?

Does Bankruptcy Take a Long Time? If you’re facing financial challenges and ongoing harassment by creditors, the last thing you...
Read More

How to Stop a Debt Collector from Wreaking Havoc on Your Life

Creditor Harassment, Debt Collectors There’s no denying it: debt collectors can create a significant disturbance in your life. They’re annoying,...
Read More
What Happens After Bankruptcy Discharge?

What Happens After Bankruptcy Discharge?

Bankruptcy Discharge One of the most exciting things that will happen to you when you file for bankruptcy is receiving...
Read More
What Should You Disclose in Your Bankruptcy Filing?

What Should You Disclose in Your Bankruptcy Filing?

Bankruptcy Disclosure Laws If you’re about to file for bankruptcy or you’ve begun the process of filing, you already know...
Read More
What You Should Do If a Creditor Sues You

What You Should Do If a Creditor Sues You

What to do if a creditor sues Receiving notice you’re being sued by a creditor can be one of the...
Read More
What’s the Scariest Thing about Bankruptcy?

What’s the Scariest Thing about Bankruptcy?

Managing Fear In Bankruptcy Filing for bankruptcy can be scary, but not nearly as scary as dealing with overwhelming debt...
Read More

Contact Us

Search Website

Archive

Request a FREE Consultation

For The Next 5 Days Get A Free Book About Bankruptcy


We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay OnlineBankruptcy Courses

comodoavvo1avvo2avvo3LEA

Tampa Office

$Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405


Tampa Bankruptcy Lawyers Map

St. Petersburg Office

$Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: (727) 532-3939


Map and Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320





Maps & Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.