How Flexible is Chapter 13 Bankruptcy?

Before filing for bankruptcy, it is crucial to understand all the facts. Since you may not be an expert in bankruptcy law, the questions you might have about the process have answers that are anything but clear. Not only are there different types of bankruptcy, Chapter 7 and Chapter 13, but there are also significant differences between the two.

The Role of a Trustee in a Bankruptcy Case

Ok, you are getting a fresh start on your financial situation and have filed for bankruptcy. One of the major players that you are going to be interacting with is a bankruptcy trustee. A bankruptcy trustee is a lawyer assigned to oversee your bankruptcy case. Their role in the case differs as to whether your bankruptcy case is Chapter 7 or Chapter 13.