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BANKRUPTCY TRUSTEE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In a bankruptcy case, the court appoints a person to oversee and manage the estate of a consumer or assets of a business. The trustee in a consumer Chapter 7 case will typically identify, collect and liquidate the debtor’s nonexempt property and eventually distribute it in a specified proportion to creditors. The trustee in a Chapter 13 will collect monthly payments from the debtor and distribute them to creditors as specified.

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