LaGrange Bankruptcy Blog
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Who is the Chapter 13 Trustee?
The Chapter 13 Trustee is an attorney who is responsible for making sure your repayment plan complies with bankruptcy laws and is also the person who collects money from you and disburses it to creditors.
Your first meeting with the Chapter 13 trustee is called the “341 meeting of creditors”. This meeting takes place on the second floor of the Federal Building in downtown Newnan approximately 30 days after your case is filed. The Chapter 13 Trustee will insure that you have listed all your assets, and that your income and expenses are reflected accurately. If he has any objections to your case (which is generally the norm), he will notify both you and your attorney by mail generally within 7 days.
Since you are in chapter 13 for usually 3-5 years, the trustee receives your payments and pays your creditors until your case is completely paid off. The Chapter 13 trustee gets paid by collecting roughly 5.5 percent of the debtors Chapter 13 payment as a fee. The trustee must keep an accurate accounting of all monies received and paid.