What is the difference between a bankruptcy trustee and a bankruptcy lawyer?

A bankruptcy trustee and a bankruptcy lawyer both play important roles in helping people file for bankruptcy in Indiana. A bankruptcy trustee is responsible for managing a debtor’s assets to make sure that creditors get the payments that they are entitled to. The trustee makes sure that the debtor’s assets are sold and the money is distributed to creditors. Bankruptcy trustees are typically appointed by the United States Trustee Program, which is part of the U.S. Department of Justice. A bankruptcy lawyer, on the other hand, is an attorney who specializes in bankruptcy law and helps debtors understand the process of filing for bankruptcy. A bankruptcy lawyer provides legal advice and assists with the filing of the bankruptcy petition. Bankruptcy lawyers have experience with bankruptcy law and can help debtors understand their rights and obligations under the law. They are also responsible for negotiating with creditors on behalf of the debtor, and can help to determine which debt is eligible for discharge under the bankruptcy laws. In summary, a bankruptcy trustee is responsible for administering and distributing assets, while a bankruptcy lawyer provides legal advice and assistance to debtors going through the bankruptcy process. Both types of professionals work together to help individuals, companies, and other entities manage their debt and move forward financially.

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What is the difference between a bankruptcy trustee and a bankruptcy lawyer?

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