How Many Trustees Are There?

Bankruptcy is not the simple process that many people think it is. You don’t get to simply walk up to a court with a paper showing how much debt you are in and they simply wave a magic wand to make it go away. There are a number of rules and policies that must be followed in order to ensure that the bankruptcy is carried out properly. There are two different types of trustees involved with bankruptcy cases.

The two different types of trustees involved most Minnesota bankruptcy cases. There are case trustees and US trustees. The biggest difference between these two trustees is the person who employs them.  The case trustee will be working with you a lot. He is a random lawyer selected from a panel of lawyers and will be working for the bankruptcy courts in order to get a better idea of your financial situation and what can be done to help you live properly while still eliminating your debt.

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Every state has a different set of rules regarding bankruptcy, the case trustee is required to know these rules  as they are a lawyer based out of the state. If they don’t know the rules of the state, they will no longer be able to practice law in the state.

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The U.S. Trustee works for the U.S. Department of Justice and is there to see that the Minneapolis bankruptcy is conducted properly and that all the necessary monies are collected. Their job is not to pass judgment on the ruling that will be made or to try and either help or hurt your situation. They simply watch the proceedings to make sure that all the federal requirements for the bankruptcy are met.

If you are confused about the roles these two trustees play in your bankruptcy case, you can think of the US trustee as a type of senior manager, who is trying to oversee the entire proceeding and making sure that all of the required policies are followed. The case trustee is a lower level manager who is working on the details of your bankruptcy case.

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