OF TERMS - PAGE 17
An order to answer a lawsuit within a specified time.
Trustee (Chapter 7)
— A person appointed to collect the non-exempt assets of the
debtor and liquidate them to pay creditors.
Trustee (Chapter 13)
— A person appointed to collect funds from the debtor and pay
the funds over to creditors over a 3 or 5 year period pursuant to
a court approved plan.
— The Office of the United States Trustee monitors the financial
reporting in bankruptcy cases. The Chapter 13 and Chapter 7
trustees report to the U.S. Trustee. The U.S. Trustee oversees the
operation of the trustee offices and appoints and removes trustees
— A creditor whose debt is not secured by property or
collateral. This would include credit card debts.
GLOSSARY HOME BANKRUPTCY
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