bankruptcy trustee
A bankruptcy trustee is a person or entity appointed by the court to oversee a bankruptcy case. Their main responsibilities include managing the debtor's assets, ensuring fair distribution to creditors, and reviewing the debtor's financial situation. The trustee acts as a neutral party, representing the interests of both the debtor and the creditors.
In a Chapter 7 bankruptcy, the trustee may liquidate non-exempt assets to pay off debts, while in a Chapter 13 bankruptcy, they help create a repayment plan. The trustee also ensures that the bankruptcy process follows legal guidelines and that all parties comply with the law.