Bankruptcy Trustee in Jackson, MS

You may wonder if Chapter 13 bankruptcy in Mississippi is your best option for debt relief. Bankruptcy is a common form of debt relief. Chapter 13 bankruptcy is designed for individuals who can afford to repay a portion of their debts but require assistance restructuring them into an affordable repayment plan. Debtors (the individuals who file for Chapter 13 bankruptcy) propose a plan to repay some or all of their debts as part of the process. Chapter 13 bankruptcy is a three to five-year plan (with the exception of a 100 percent plan).

At The Rollins Law Firm, we are seasoned, Jackson, Mississippi-based bankruptcy attorneys who focus on Bankruptcy Trustee concerns and provide prompt legal action. For more information, please schedule a free initial consultation with us to discuss your legal options.

Rollins Law Firm Mississippi Bankruptcy Lawyer

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Rollins Law Firm Mississippi Bankruptcy Lawyer

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Why do I need a Bankruptcy Trustee in Jackson, MS?

What is the role of a Chapter 13 Bankruptcy Trustee?A trustee is a person who administers property (such as business assets) held in trust. A trustee’s fiduciary duty is to administer the property impartially for the benefit of an individual or business. A bankruptcy trustee is a type of trustee who supervises a bankruptcy proceeding.

The U.S. Trustee Program of the Department of Justice selects bankruptcy trustees, who are private individuals with expertise in business, accounting, management, and bankruptcy-related legal issues. According to the Trustee program, a trustee is the “watchdog over the bankruptcy process.” 

Depending on the type of bankruptcy, the Trustee Program appoints a trustee to manage the case and the assets when someone files for bankruptcy. The trustee oversees the bankruptcy parties’ actions and ensures that the process is conducted in accordance with applicable laws and the types of bankruptcy.

A fee is paid to the trustee for administering the bankruptcy. Depending on the type of bankruptcy, the trustee may also be compensated for reasonable expenses and their services.

What is the role of a Chapter 13 Bankruptcy Trustee?

A Chapter 13 bankruptcy reorganizes your debt by allowing you to repay creditors in installments over a three to five-year period. The trustee appointed to your Chapter 13 bankruptcy case oversees the administration of the plan.

Among the numerous responsibilities of the trustee are:

  • reviewing the bankruptcy documentation
  • evaluating the compliance of the proposed plan with bankruptcy laws
  • accumulating plan payments and distributing funds to creditors,
  • in all other respects adhering to the terms of the Chapter 13 plan.

Examining the Petition and Repayment Plan for Chapter 13

Your proposed repayment plan describes how you intend to repay some or all of your creditors. A trustee’s responsibilities include ensuring that your Chapter 13 repayment plan is fair to your creditors.

The trustee in bankruptcy begins by:

  • reviewing the official bankruptcy forms submitted at the outset of the case,
  • confirming your information by comparing the figures on the official forms with the documents you will send to the trustee shortly after filing.

The petition and schedules detail your income, monthly expenses, assets, and liabilities. The trustee will verify your financial disclosures using your tax returns, pay stubs, bank statements, and any other documents required by your particular trustee.

Conducting the Chapter 13 Creditors’ Meeting

After filing your case, you will attend a meeting of creditors administered by the Chapter 13 trustee approximately one month later. You will answer under oath the trustee’s questions under oath regarding the information in your bankruptcy paperwork, plan, and supporting documents.

You can anticipate being asked about your income, assets, and any other information pertinent to your bankruptcy. Your creditors will also be able to submit questions.

If additional documentation is necessary, the trustee will reschedule the meeting. If not, the trustee will adjourn the meeting.

Attending the Hearing for Confirmation

A trustee (or creditor) could object to the confirmation of your plan if he or she finds a problem with it (court approval). You will have a limited amount of time to correct the issue or draft an opposition to the plan.

The trustee will attend the confirmation hearing and inform the judge of his or her opinion regarding the plan’s viability (meets all requirements). The judge will determine whether or not to confirm (approve) the plan.

Managing the Bankruptcy Repayment Program

Within 30 days of filing your Chapter 13 petition, you are required to begin sending monthly payments to the trustee in accordance with your proposed repayment plan. Your repayment plan remains proposed until the court approves it, and the trustee holds the funds in trust for your creditors. After court approval, the Chapter 13 trustee begins distributing funds to creditors in accordance with the terms of the plan.

Three to five years are required to complete a Chapter 13 plan. Until you complete the plan, the trustee will continue to receive your payments and distribute them to your creditors. The trustee must assess the proof of claim forms submitted by each creditor and maintain a record of all funds received and the amount paid to each creditor.

Chapter 13 Objections to Improper Creditor Claims

In order to receive Chapter 13 funds, creditors must file a proof of claim with the court within seventy days of the case’s filing date (government creditors have 180 days). The proof of claim includes documentation in the form of a contract or agreement stating the amount owed to the creditor.

The Chapter 13 trustee examines the creditor claims and objects to claims that are improperly filed or lack the proper documentation. Other parties may also object. Read Objecting to a Proof of Claim in Bankruptcy for more information.

Call our Bankruptcy Attorneys Now!

It is important to remember that filing for bankruptcy is a painful and challenging process. If you are thinking about filing for bankruptcy then you need to collect a lot of information. One of the most important things you will need to collect is the bankruptcy lawyers’ contact information. 

Our bankruptcy lawyers have assisted hundreds of individuals, families, and business owners in  Mississippi in resolving their debts through Chapter 13 and other debt-relief strategies. By focusing on bankruptcy, The Rollins Law Firm can provide you with the assistance you need to fulfill your plan’s obligations. Call us for more information about the benefits of bankruptcy and honest free legal advice.

Learn more about how filing for bankruptcy can help you.

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Testimonials

Rollins Law Firm has gave me hope during a dark time

I was searching the web for information in on filing bankruptcy and discovered Rollins Law Firm. My situation was so uncertain and overwhelming but after consulting with Grayson, Jennifer, and Alex at Rollins Law Firm has gave me hope during a dark time. I am grateful for the help that I received and recommend Rollins Law Firm to anyone that is having difficulty with debt and don’t know where to start. There is a rainbow at the end of every tunnel. 🌈🌈❤️❤️

Courtney Crawford

Definitely give this place your business, you wont regret it!

I used this firm in April and was blown away by how simple they helped to make the process for me. Every question I had, no matter how repetitive it was, they answered. I worked with Jessica a lot and she was amazing. Very patient and knowledgeable! If i could give them more stars I would. Definitely give this place your business, you wont regret it!

Natalia Ramsey

They answered all my questions and didn’t make me feel stupid for asking them

This firm is amazing Mr. Rollins, Alex, Grayson, Jessica, and the whole crew. They answered all my questions and didn’t make me feel stupid for asking them. I met with a couple of attorneys about my situation and none of them came close to being as thorough as Mr. Rollins, save yourself the time and effort, no need to call a thousand attorneys, choose the Rollins law firm and get your financial life back.

Jonathon W

Rollins Law Firm was there every step and explained it all in a way that was easy to understand

This process is a hard decision to make.  Rollins Law Firm was there every step and explained it all in a way that was easy to understand.  They answered my questions, sent me emails and text messages with information and appointment reminders.  There were some videos and a booklet that was very very informational and helpful to me.

Lauren Primeaux

Helped me through a very stressful time.

Helped me through a very stressful time. Mr. Rollins and his staff have been very nice and professional. They are always very quick to respond to any questions I may have. I would recommend Rollins Law Firm to anyone.

Kim Ainsworth

Fast response and professional advice

Fast response and professional advice. Really great to work with and understand what a difficult time in one’s life this is. Will recommend to anyone

Bryan Aust

The Rollins firm went above and beyond helping me

The Rollins firm went above and beyond helping me with my situation during the on going covid 19 crisis.

Owens Booker

Rollins law firm made it easy and less stressful!!!

Some of the nicest people I’ve met. Very patient, kind, and helpful. They helped me through a very difficult situation. Filing bankruptcy is very challenging and the people at Rollins law firm made it easy and less stressful!!! I thank you guys so much for all of your help through this difficult situation!! I will recommend this firm to anyone considering bankruptcy!!

Stephanie Harris

Relieve your financial worries and get you back on the right track!

My wife and I were in an impossible financial situation where over time, we had built up so much debt that we could no longer keep up with all the payments. We were getting further and further behind until we reached out to the Rollins Law Firm for help. They have the knowledge and expertise through their experience to handle our particular situation. Their entire team of professionals are always available to answer questions, explain your options, and then provide the legal service that you need to relieve your financial worries and get you back on the right track! I recommend the Rollins Law Firm to anyone who needs help to deal with financial struggles.

Mike Zegelien

I had a wonderful experience

I had a wonderful experience. The staff were nice and very informative. The process was quick and easy. Very affordable for me being a single parent. Would recommend anyone there.

Lashay H

The Rollins Law Firm has made filing for bankruptcy very easy and understandable for me and my husband

The Rollins Law Firm has made filing for bankruptcy very easy and understandable for me and my husband. We are young and clueless about a lot, so having them walk us through literally everything has been great! The staff is wonderful and very responsive. We have never waited long for a call, text, or email back. We want to thank Breanne, Alex, Grayson, and Mr Rollins himself for such a positive experience. Of course, bankruptcy isn’t a good thing but when it’s your only option, this is the firm you want to use! It’s been affordable and quick. We are super pleased with the experience from the time we first called their office til today after filing with them!

Rebecca Harvey

They are the most respectful people

They are the most respectful people. They are about their business. I couldn’t have chosen a better Law Firm! I would refer them to anyone! Job well done

Beverly Wilson

I’m feeling a lot better about my financial future and thankful for all their help.

I went into Mr. Rollins’ law firm not knowing what to expect. After my first meeting with his team, I knew I made the right decision to contact his office. Everyone was knowledgeable and very willing to answer any questions and prompt with their responses. I’m feeling a lot better about my financial future and thankful for all their help.

Dawn Barfield

They made the process so easy to complete

The Rollins firm assisted me at a very low point in my life. After having a lot of medical issues and expenses, I found myself unable to make ends meet. Mr. Rollings and his staff worked very promptly to help. They made the process so easy to complete.

Vinester Smith