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What is a Chapter 13 Trustee?

When you fie a Chapter 13 case, you are assigned a Chapter 13 Trustee, whose job it is to collect your payments in distribute the money to your creditors (and keep 3 to 10 percent commission for him or herself). Unlike a Chapter 7 Trustee, a Chapter 13 Trustee often plays an active role in your bankruptcy case, and may - in some cases - even provide financial advice, help you with your budget, help you to set up and modify your repayment plan, help you get back on track if you miss payments, and help you to valuate your assets. Nevertheless, a Chapter 13 Trustee will generally allow you to keep control of your financial situation so long as you continue to make your payments as scheduled.