Chapter 7
Trustee Overview

 

 

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This website is designed to assist people who are assigned to Homer W. McClarty as Trustee in their Chapter 7 bankruptcy cases, who may need information to complete the bankruptcy process. We provide the following:

• Helpful information about the 341 meeting of creditors
• Forms for Chapter 7 bankruptcy cases
• Helpful links

• Chapter 7 Panel Trustee Pledge of Excellence ― the oath each Trustee takes to serve people filing for bankruptcy

 

The Role of a Chapter 7 Bankruptcy Trustee

The Chapter 7 Bankruptcy Trustee is a person appointed by the Justice Department. The Trustee presides over the mandatory 341 meeting of creditors that every person filing for bankruptcy is required to attend. At the 341 meeting of creditors, the Trustee examines your financial affairs while you are under oath and later submits reports to the bankruptcy court and the Office of the U.S. Trustee. The role of the Trustee is to determine whether you have any assets that may be liquidated or sold to provide proceeds to your creditors. If assets are available and non-exempt, (some of your assets are protected by law or may be subject to lien by secured creditors), then the Trustee may take control of those assets, sell them and distribute the proceeds to your creditors. In return, the Chapter 7 bankruptcy court may allow you to discharge many types of debts, including:

• Credit cards
• Medical and dental bills
• Unsecured personal loans
• Certain taxes

 

You Must Present to Your Trustee:

• Photo identification ― Bring one of the following: driver’s license, U.S. passport, government ID, state picture ID, student ID, military ID, resident alien card
• Original proof of Social Security (make sure the full number is displayed), Social Security card, medical insurance card, W-2 form, IRS form 1099 or Social Security Administration report