You hear in bankruptcy about the “trustee,” and maybe about the “U.S. Trustee.” They’re clearly easy to confuse. Who’s the U.S. Trustee?
A creditor or a bankruptcy trustee could potentially object to the discharge–legal write-off–of ALL your debts. Very rare, and preventable.
Usually it’s not hard to avoid getting into a dispute with your trustee. But you need to know the law and follow it.
Bankruptcy is a lot easier to understand and much more comfortable to go through when you know who’s who.
You must use the right “state in which you live” to qualify for Chapter 7. It’s not always obvious.
What are the roles of the debtor, the creditors, the bankruptcy clerk, the judge, the Chapter 7 and 13 trustees, and the U. S. Trustee?
By law a certain number of cases must be audited for debtors’ “material misstatements.” But how does 0% chance of being audited sound to you?
You’ll be much more comfortable during your bankruptcy case if you know the system’s cast of characters.
It sure helps in understanding the two main bankruptcy options if you know the cast of characters in each one.