The paper work involved includes information on property and income, debts and monthly living expenses, exempt property, and property transactions for the previous two years.
Exempt property varies from state to state, see an attorney for current state information.
His or her primary duty is to pay as much as possible to the unsecured creditors. During the meeting of the creditors, the trustee reviews the consumers exempt property in the meeting of the creditors, the trustee then receives nonexempt property for sale and distribution between creditors . This is up to the trustee's discretion. This website is provided with the understanding that USU Extention is not engaged in rendering legal services. If legal advice is required, the services of a competent attorney should be sought.