Chapter 7 Bankruptcy Trustee | Bend Bankruptcy Attorneys | Portland, OR

The Role of a Chapter 7 Bankruptcy Trustee


Chapter 7 Bankruptcy Trustee

When a Chapter 7 bankruptcy case is filed in Oregon, a Chapter 7 Bankruptcy Trustee is appointed by the Court to administer the case. Here is a list of potential Chapter 7 Trustees in Portland. There is only one Trustee appointed from a small list of potential Trustees, and the Trustee does not represent the interests of the debtor. That is a key reason why it is always wise to hire your own bankruptcy attorney. Our Oregon bankruptcy attorneys in Bend, Clackamas, & Portland can assist you in filing bankruptcy and represent your interests in your bankruptcy case.
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The Main Role of a Chapter 7 Bankruptcy Trustee

The main goal of the Chapter 7 Trustee is to take money or property away from a Chapter 7 debtor and return that money to your creditors. Understand the role of the Chapter 13 bankruptcy Trustee and how it differs from Chapter 7 here. The Chapter 7 Trustee legally steps into the shoes of the Chapter 7 debtor. It takes over control of the debtor’s financial affairs. The Trustee can, in some circumstances, actually list your home for sale and force you to sell the home. That’s right, a Chapter 7 bankruptcy Trustee can force the sale of your primary residence over your objection. The proper use of claimed exemptions can minimize this risk.

Can You Keep Your Car?

If you have too much equity in your car, then the Trustee can force the sale of that car. If you have too much money in the bank, the Trustee can take the money from you. If you have a claim to recover money from someone, like a personal injury claim, a contract claim, or a tax refund owed to you, the Trustee in Chapter 7 can intercept that money and pay it back to your creditors. When you file for Chapter 7 bankruptcy, the law requires you to cooperate with the Chapter 7 Trustee. If you refuse to cooperate, then you will not obtain a Chapter 7 discharge. Since a discharge of debt is the main reason you filed for Chapter 7 bankruptcy, cooperation is key. Call us at 503-852-9047 to schedule a case evaluation with our Portland Chapter 7 bankruptcy lawyer and stop repossession today.

Meeting Of Creditors

A debtor who plans to file bankruptcy will have to meet with a Chapter 7 Trustee. This meeting is commonly called the Meeting of Creditors or the 341(a) meeting.  Your Trustee will review all the information on your bankruptcy paperwork including all exemptions that you claimed. Once you file your bankruptcy petition, all of your creditors will be given a notice of the date and time of the 341(a) meeting. Creditors who attend this meeting will be allowed to ask you questions about your case. If you live in the Portland metropolitan area and file for bankruptcy, here is a link to the exact location of the Meeting of Creditors in Portland. It can be subject to change, so make sure to review your own bankruptcy paperwork in advance. If you live in Salem, Canby or Woodburn, then your Meeting of Creditors will be held in Salem at the Red Lion Hotel.

Paperwork Needed

Before the Meeting of Creditors, you are required to provide the Trustee with additional documents, including, your last filed tax return and copies of the bank account statements. This proves how much money was in your account on the day you filed for bankruptcy. When the Trustee first starts the hearing he will ask if you read the Bankruptcy Information Sheet. During the meeting, the Trustee will often ask questions which go beyond the scope of the basic information contained in the bankruptcy schedules. Hiring a local Portland bankruptcy attorney will give you additional protections affording you valuable insight into the documents requested and questions frequently asked by a Portland Chapter 7 Trustee. You can get in touch with our nationally certified Portland bankruptcy attorneys who are familiar with consumer bankruptcy cases by following this link.

Chapter 7 Trustee Is Not a Judge

The Chapter 7 Trustee is not a Judge and does not have authority on his own to order you to do anything. However, since you have a duty to cooperate with the Trustee, if you fail to cooperate the Trustee will ask the Judge to Order you. Trustee’s are not always right and can sometimes be overzealous. Another reason why hiring the right bankruptcy attorney, especially one who is familiar with the bankruptcy practice in Portland, is a wise decision.

The Difference Between Chapter 7 and Chapter 13 Trustees

A Trustee is also appointed in a Chapter 13 bankruptcy case filed in Oregon. However, the Chapter 13 Trustee does not have the same powers as a Chapter 7 Trustee. This is because the debtor is given certain powers in a Chapter 13 that are normally exercised by a Chapter 7 Trustee. That is why at our office we really emphasize control as the difference between Chapter 7 and Chapter 13. If you want to have more control over the process, then you file for Chapter 13 bankruptcy. If you are confident that you have no assets which a Chapter 7 Trustee might take, then perhaps control is not important to you and a Chapter 7 bankruptcy will be the right solution. For more information, or to schedule a case evaluation, call us today or fill out the intake form.    

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FACING COMPLEX DEBT PROBLEMS?

Whether you're dealing with overwhelming debt, stopping foreclosure or repossession proceedings, or looking for a way to protect your assets, our Portland bankruptcy attorneys are here to help you overcome your financial hurdles!

Please be aware that submission of this no-obligation form does not establish an attorney-client relationship. By filling out the form, you agree to receiving emails from our firm regarding your case evaluation and other helpful resources. 

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