Action five – Appointment of Trustee – The federal bankruptcy courtroom will appoint a trustee to deal with the administrative duties related to your situation. The trustee evaluations the bankruptcy petition manages the bankruptcy estate and oversees the sale of any assets to pay creditors.There are two “dedication intervals” for Chapter 1

The process starts Together with the debtor filling out a series of forms detailing information of belongings, liabilities, revenue, fees, and overall financial standing, additionally any existing contracts or leases in the debtor’s identify.You must submit a reorganization prepare that safeguards selected property (like the house) versus reposse