What are credit counseling agencies?
June 22, 2017What are avoiding powers?
June 22, 2017Our Professional Answer:
In a Chapter 11 bankruptcy, the United States trustee, the Justice Department lawyer that overlooks the case, can when prompted by the creditors of your case form a creditors committee. The creditors committee can be a very powerful group. Their job is to ensure that you treat the creditors fairly in your plan of reorganization, and it allows the creditors to act together rather than individually. The creditors committee can also hire its own attorney and its own accountant at the cost of the debtor in possession.
