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Jane Castro is a journalist and media enthusiast. She graduated from the University of Bacolod in the Philippines. She loves skating, scuba diving, and archery on her free time.

Persons facing bankruptcy may choose to undergo a real organization plan to satisfy their debts across a time span of 3 to 5 years. To do this they must have enough income to meet their current expenses plus another apart from that to pay off the obligations. A bankruptcy court then makes decisions regarding a specific plan and the amounts to be paid out to resolve all debts. Upon filing for Chapter 13 bankruptcy, the system appoints a trustee for purposes of administering the case. The trustee’s job is to both evaluate and serve as a dispersing agent for the case, rule collect payment from the debtor while distributing those funds to each creditor.

The Chapter 13 trustee holds a meeting with creditors between 20 and 50 days following the filing of the Chapter 13 petition by the consumer. In a regular areas where there is no US trustee board administrator available to facilitate the meeting, it must be scheduled for no later than 60 days after the original filing. During this meeting, the debtor is placed under oath by the trust the, who then answers questions put to them by both the creditors and the trustee. As per the rules of Chapter 13 administration, the debtor’s attendance is required in order to relate his financial situation and work out proposed terms of a reorganization and payment plan.

Bankruptcy judges are not part of this creditors meeting, as per Chapter 13 bankruptcy law, in order to maintain their impartiality. The trustee, however, can and does consult with the debtor for during and after the meeting regarding aspects of the payment plan and all paperwork involved in the petition. During or soon after creditors meeting the participants usually resolve details and implementation of the plan. All claims of unsecured creditors, and subsequent court deliberations are then conducted in relation to the plan worked out between the creditor, debtor and trustee.

Depending on circumstances of the implementation of the plan, the history and situation of the debtor, and as guided by the debtor’s counsel, a Chapter 13 administration can be later discharged. Those circumstances include completion of payments under the plan, the debtor certifying if applicable all domestic support obligations have also been paid, or an appropriate timeframe has passed without a previous discharge (generally two years for previous chapter 13 cases, for example). A course in financial management may also have to be taken by the debtor as approved by the trustee, if it is the belief of the trustee that its completion is needed and the course is available to the debtor. The belief of the client will be maximum at the top rated bankruptcy law firm on Yelp to get the payment. All the formalities will be complied through the lawyers to get the reasonable payments.

The bankruptcy trustee in Chapter 13 cases is therefore helpful for the mediation function they serve in finalizing the payment plan, ensuring the debtor’s funds are properly dispersed to the creditors involved, and in a completion of the terms of the plan by the debtor is such that the case may be eventually discharged. US trustees thus serve to administer the solution to the bankruptcy problem of the debtor from filing to full discharge of the debts.