Choosing a Good Bankruptcy Trustee
Although bankruptcy trustees follow similar federal regulations, your financial situation is unique to you and you thus need to select a trustee you feel comfortable with and who you can trust. So, with so many of them how do you choose the best trustee? You may utilize accreditation, reviews, word of mouth, and reviews as means of establishing which trustee is good but it’s crucial that the trustee is also empathetic. You should not ask a potential trustee this question but by checking reviews, you will at least have some light. In addition, you can interview and call a trustee to have a feel of how empathetic and understanding they are. Being empathetic is a very crucial characteristic since you are likely to get stressed during the process. This is a common thing and a compassionate trustee will be much helpful. Below are more guidelines on selecting a bankruptcy trustee.
Choose a nearby bankruptcy trustee. Numerous trustees provide consultation services where they and their clients sit to talk about the customer’s financial alternatives. Any proceeding will entail setting up an appointment. You will not spend any money and you will be better placed in figuring out whether this trustee is your perfect match. It is imperative to choose a nearby bankruptcy trustee so that you will not find it hard to attend meetings moving forward.
You should seek recommendations and read reviews. Chances are, the people within your circles have faced bankruptcy issues. You can ask them if they liked working with their trustee. Also, check potential trustees’ websites for testimonials and check reputable 3rd party review sites. From all these, it’ll be easy for you to establish the trustees that are seen as responsive and professional.
Next, check how comfortable you are working with this bankruptcy trustee. You and your bankruptcy trustee will talk about a lot of susceptible info such as tax refunds, pending claims, divorce settlement, and nonexempt real estate, among others. If you are not relaxed being around a bankruptcy trustee, you will reserve some info and this can be detrimental. To establish this factor, you need to meet with a prospective trustee so as to gauge how comfortable you are being around him or her.
Is this bankruptcy trustee licensed? There is the required qualification those intending to work as bankruptcy trustees must meet. To ascertain this, authorities severely screen the competence of those joining the industry. They also revoke permits of bankruptcy trustees who fail to work in line with the law. To be sure of a trustee being trustworthy and competent and following the best legal practices, ask for his/her license number and counter-check with the authorities.