No announcement yet.

What is a trustee? Louisiana

This topic is closed.
  • Filter
  • Time
  • Show
Clear All
new posts

  • What is a trustee? Louisiana

    A trustee is a person who works with the court to administer bankruptcy cases. The trustee does not represent the debtor or any individual creditor and cannot give legal advice. Rather, the trustee has independent rights and duties that are set forth in the Bankruptcy Code sections 323, 327, 341, 343, 345, 363, 364, 365, 704 (chapter 7 cases) and 1302 (chapter 13 cases). In a chapter 7 case, the trustee may take possession of the debtor's assets, sell them, and distribute the proceeds to creditors. In a chapter 13 case, the trustee administers the debtor's plan of payment, collects the funds, and pays the creditors. The trustee will also oversee the first meeting of creditors.