How to Choose the Best 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? As much as you may use the word of mouth, accreditation, education, and reviews, you’ll need to be sure the trustee has empathy. 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. This is an important quality because during the process, you may feel stressed. This is something common and a trustee who’s sympathetic will be of much help. Here are more factors to use when choosing a bankruptcy trustee.
Choose a nearby bankruptcy trustee. Many trustees offer free consultations where they sit with their clients and discuss a client’s financial options. Any happening will call for an appointment. It does not cost any money and you can figure out swiftly if your trustee will be a perfect choice. It is imperative to choose a nearby bankruptcy trustee so that you will not find it hard to attend meetings moving forward.
Make sure you consider reviews and get recommendations. It is likely that someone you trust has ever gone through what you are going through. You can ask whether they liked the trustee they worked with. In addition, check the websites of potential bankruptcy trustees for testimonials and reputed third-party review sites. From all these, you can determine which bankruptcy trustee is seen as amicable and professional.
The next thing is to check how comfortable you feel with a bankruptcy trustee. You are going to inform your bankruptcy trustee a lot regarding yourself, for example, pending claims, nonexempt real estate, tax refunds, divorce settlement, and more sensitive things. 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 the bankruptcy trustee you’re about to hire licensed? To act as a bankruptcy trustee, a person must be competent. To ascertain this, authorities severely screen the competence of those joining the industry. They as well revoke licenses of bankruptcy trustees who take advantage of their clients. To ensure you’re dealing with a trustee who follows the best authorized practices and is competent and dependable, ask for their license number and contact licensing bodies for confirmation.