Who would manage my bankruptcy estate and who decides my target contributions?
I filed for bankruptcy but I'm not sure how to manage it. I've heard that the court would assign someone to help me manage the bankruptcy estate but I also wonder if I could get someone else to manage it for me. I also want to know who decided my monthly and target contributions and if my monthly contributions would be deducted from my monthly salary.
Typically, the cour assigns an Official Asignee to manage the bankruptcy estate so that your assets would be administered and distributed as fairly as possible among the creditors but the bankruptcy estate can be managed by a private trustee who can either be an accountant or a lawyer. If you are emplyed, you have to make a monthly contribution that is paid to your bankruptcy estate which would go towards fulfilling a target contribution that is decided by the Official Asignee.