The services of a bankruptcy lawyer in the United States or a bankruptcytrusteein Canada and Europe is required to declare bankruptcy. A free evaluation meeting can be scheduled to meet with the lawyer and discuss your personal situation. They may suggest other options to resolve your debt issues...
Due to the impact of their role on the trust and its beneficiaries, it is essential to carefully consider who to assign as a trustee. Duties and Responsibilities of a Trustee If you are considering naming someone as the trustee of your trust, it is important to know the scope of their du...
If you find that your income falls short, bankruptcy may become a viable solution. Credit Score: Understand your credit score and how it may be impacting your financial options. A low credit score can make it difficult to secure favorable credit terms and may indicate that your debt burden ...
A trustee in bankruptcy is an accountant who has been appointed by the U.S. Department of Justice to serve in bankruptcy cases for the purposes of making certain that unsecured creditors receive proper representation. Learn More About The CPA Exam The Ultimate Guide To The Audit Exam CPA Sala...
If you are the creator, a co-trustee, or a beneficiary of a family trust and you believe a trustee is not acting properly, there are ways to go about removing or replacing a trustee.
A. Bankruptcy for Individual 1. Chapter 7 Also called ‘Liquidation’ or ‘Straight Bankruptcy,’ Chapter 7 bankruptcy is the more common of the two individual bankruptcies. The local court appoints a trustee to oversee the liquidation of assets so the party’s creditors are paid off. Other re...
but sometimes you just need a fresh start. There are two options: Chapter 7 and Chapter 13. Chapter 7 is easier to complete but has strict income requirements. Chapter 13 is basically an extended repayment plan. In either case, you will be assigned a bankruptcy trustee to help you through...
It would be irresponsible, therefore, for a bankruptcy trustee to claim to the court that the stricter Revised Article 9 debtor name rules apply. However, at the point an amendment is filed to a pre-effective-date financing statement, the filer is responsible to bring the financing statement ...
an officer appointed by the United States Trustee Program of the Department of Justice, to represent the debtor'sestatein the proceeding. The debtor and the judge usually have no contact unless there is some objection made in the case by a creditor. When bankruptcy proceedings are complete, the...
The bankruptcy court will appoint an unbiased trustee to oversee the entire bankruptcy process. They will review assets and determine which assets can be liquidated to pay creditors. The trustee then schedules meetings with the creditors, where the validity of the petition and finances is confirmed....