According to the United States Department of Justice website, the United States Trustee Program “seeks to promote the efficiency and protect the integrity of the Federal bankruptcy system”. Basically, the trustee's job is to oversee the bankruptcy process, detect and eliminate fraud, and ensure that all involved parties abide by the law.
You can find the trustee who is assigned to your case in a Chapter 7, Chapter 12, or Chapter 13 bankruptcy case at the top of your case docket. If you suspect bankruptcy fraud, report it to your trustee. An experienced Illinois bankruptcy attorney can help you work with and understand the trustee who is assigned to your case.
If you and your attorney have decided that filing for Chapter 7 bankruptcy is your best option, all of your non-exempt assets will be liquidated in order to pay your debts before you can be excused from repayment (discharged) of eligible debts. These assets are collected and liquidated and then distributed to creditors by a private trustee. Certain assets are exempt from this process in the state of Illinois, this chart can help you get an idea of what some of these are. Your Illinois bankruptcy lawyer can help you understand what will happen to your belongings in your bankruptcy case.
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