Sentences with phrase «court appointed trustee»
A Chapter 7 bankruptcy is a liquidation; the bankruptcy court appoints a trustee to determine whether you have any assets that can be sold to pay your creditors.
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In a chapter 7 case, the bankruptcy court appoints a trustee to examine the debtor's assets to determine if there are any assets not protected by available «exemptions».
Your case will then be assigned to a court appointed trustee.
Bankruptcy is a legal process whereby individuals, businesses, and organizations can discharge or pay back debts with the help of a court appointed trustee.
A court appointed trustee will review the plan and your creditors must agree to it.
In Chapter 13 a payment plan is set up by a court appointed trustee to fulfill financial obligations.
In a Chapter 7 bankruptcy, the court appointed trustee may cancel many or all of your debts.
Chapter 7 bankruptcy is when the court appoints a Trustee who may liquidate or sell some things that you own to pay your creditors.
After, a court appointed trustee will mediate discussions between all parties until an agreement is reached.