Understanding the Services of a Chapter 13 Trustee

Among the different types of bankruptcies is a Chapter 13, which is often referred to as a “wage earner’s plan. With this bankruptcy, an individual with regular income is allowed by the court to devise a repayment plan that lasts for a three- to five-year period for some, if not all, of the debt owed. Because of the legalities involved, this person should work with a qualified Utica bankruptcy attorney. If you are facing Chapter 13 bankruptcy, the court will appoint a trustee. During the three to five years, payments are made to creditors based on an approved financial plan. The trustee...

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