Quite apart from its common usage, e.g. under the Trustee Act 1925, this is a term used for a variety of insolvency appointments, including the licensed insolvency practitioner appointed in an English bankruptcy; a Scottish sequestration; a deed of arrangement; a Scottish trust deed and an administration order (of the affairs of a deceased debtor).
That is the technical definition. You will become aware of a bankruptcy trustee if you have entered bankruptcy. Or you have a failed IVA and a move has been made against you. when this happens it is usual for the IVA Supervisor to seek the appointment as the bankruptcy Trustee.
The Bankruptcy Trustee will be intent on materialising assets that Were captured either at the time of bankruptcy or within the duration of the bankruptcy, or where an Income Payments Agreement or order is in place and you have had a material change in your financial circumstances.
We provide a specialist intermediary service where with your authority we act as the go between between you and your trustee. It is often the case that communications break down between the debtor and the supervisor. If assets are at stake for example the family home is being pursued by the bankruptcy trustee or supervisor then peoples defensive mechanisms engage and the fear of loss makes it very difficult to focus on positive solutions. This is particularly common place with families and couples who are quite simply petrified of the future with the loss of the home and the inevitable costs that will be lost in the process of securing these monies from the home on the creditors behalf.
Once we have received the authority to act form returned to us we will make contact with the Bankruptcy Trustee or Supervisor and set about a solution to mitigate loss and provide a balance between the parties. If necessary we issue complaints to The Insolvency Service Gateway against Insolvency Practitioners who have behaved in questionable ways.
If you would like to discuss a situation with a bankruptcy trustee or supervisor then call Sean Kiani 07479719319