Chapter 7 Information

The role of a Chapter 7 bankruptcy trustee is to find any assets you may have, examine the value of those assets, and to see if there are any non-protected assets that may be sold to repay a portion of your debts. If no such assets exist, the trustee will file a report to the court stating that no money will be available for your creditors. However, if the Chapter 7 Trustee determines that assets do exist that can be properly sold to pay back some of your creditors, the trustee will follow through to ensure that such proper repayments will be eventually made. However, with help from McManus & Associates, in most cases, debt can be discharged (wiped clean) without repayment or the liquidation of assets.