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LSDefine

Simple English definitions for legal terms

bankruptcy trustee

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A quick definition of bankruptcy trustee:

A bankruptcy trustee is a person who is chosen by the court to manage a person's money and property when they file for bankruptcy. The trustee's job is to make sure that the person's debts are paid as much as possible by selling their property or creating a payment plan. The trustee cannot make decisions without the court's permission. The trustee's duties depend on the type of bankruptcy case, but they always work to help the person pay their debts and get back on track financially.

A more thorough explanation:

A bankruptcy trustee is a person appointed by the court to manage the assets and debts of a debtor in a bankruptcy proceeding. The trustee's role is to oversee the debtor's estate and make recommendations to the court about various debtor demands. However, the trustee cannot act without the approval of the court.

The duties of a bankruptcy trustee vary depending on the type of case. In a Chapter 7 case, the trustee's role is to sell the nonexempt property and distribute the proceeds to creditors. In a Chapter 11 case, the trustee's role is to reorganize the debtor's business obligations, debts, and assets to emerge from bankruptcy and continue operation. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them to creditors on a payment plan.

For example, if a person files for Chapter 7 bankruptcy, the trustee will evaluate the debtor's assets and determine which ones can be sold to pay off creditors. The trustee will then manage the sale of those assets and distribute the proceeds to the creditors. In a Chapter 11 case, the trustee will work with the debtor to create a plan to reorganize their business and pay off debts over time. In a Chapter 13 case, the trustee will receive the debtor's monthly payments and distribute them to creditors according to a payment plan.

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20:50
-- as an undergrad
crabapple
20:51
@llama: There was one guy who did it successfully last year, I'll see if I can find the post for you. Absolutely not a normal practice though -- nor should it be!
crabapple
20:52
Imagine if you were trying to apply to law school and half the seats were already taken by schmucks from last year's waitlist
20:52
@crabapple: I would LOL. Real shyster move tho, you rite.
20:53
@Arianq4: 1. Move. 2. Pursue other, non legal work, then take a year after UG to work if u wish
20:54
A shyster: is a person who is dishonest or unethical, especially in the practice of law. The term is often used as a derogatory term for lawyers. pinnacle word choice imo.
@crabapple: mich puts it out as an option and said in a waitlist session this year that they want to take more people than normal this way due to app volume
it makes sense for me because I got a new opportunity for a year and figured it wouldn't hurt to ask
was there a vandy wave today? seems like a small one
crabapple
22:26
Oh okay my bad I have never been waitlisted at umich so I wouldn’t know how they do that splish
hey guys
do you think a low gpa automatically disqualifies you
from good law schools
tonkatruck
23:36
no
omelette
0:08
define "good law school:
omelette
0:09
there are plenty of "good" regional non-T14 law schools by employment standards. but i assume u mean T14 or T20
0:46
@ReadyThinWerewolf: Yeah, I mean you got like Berk this year that hasn't dipped under 3.6. Some are like that.
0:46
nm they dipped under for like idk 10 fucking people.
0:46
Yeah, if you dont have at least a 3.7 it means you fucked around and didn't try hard in undergrad.
0:48
Here we will do Yale. 3 people got in lower than a 3.75. So yeah, some schools are practically unreachable without some insane soft if you don't have a good gpa.
@ReadyThinWerewolf: Depends on what you consider a good school and low GPA. For t14, usually but not necessarily. As another said, some schools are very likely a no-go, like Yale and Berk. But Stanford can be a bit of an outlier. But if you’re talking a really low GPA, then you have to reset your expectations and focus on a regional school that will get you what you want
At Berkeley, for instance, a low GPA is essentially an auto-R. They only accept one or two sub 3.0 GPAs a year
2:02
They got a lawyer on next level chef this season. Nice: https://tubitv.com/tv-shows/200189786/s04-e02-home-chef-auditions
2:19
Oh lmfao that's the only episode he is on. R.I.P. Brooklyn State prosecutor.
Does a finding of misconduct and irregularity prevent someone from being a lawyer
2:58
Probably not
3:00
I know a guy who was straight up texting during the LSAT and he is fine. Went to law school last year. Guy probably should not be going to law school but I tutored him so now he is.
Thank you, did lsac find out about it
The texting
i hate this cycle :(
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