NAICS Code 523991-01 - Bankruptcy Trustees

Marketing Level - NAICS 8-Digit

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NAICS CODE 523991-01
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Looking for more companies? See NAICS 523991 - Trust, Fiduciary, and Custody Activities - 2,385 companies, 16,320 emails.

NAICS Code 523991-01 Description (8-Digit)

Bankruptcy Trustees are professionals who are appointed by the court to oversee the administration of bankruptcy cases. They are responsible for managing the assets of the debtor, ensuring that creditors are paid as much as possible, and ensuring that the bankruptcy process is carried out in accordance with the law. Bankruptcy Trustees work closely with debtors, creditors, and the court to ensure that the bankruptcy process is fair and efficient.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 523991 page

Tools

Tools commonly used in the Bankruptcy Trustees industry for day-to-day tasks and operations.

  • Bankruptcy software
  • Accounting software
  • Legal research databases
  • Document management software
  • Financial analysis tools
  • Communication tools (e.g. email, phone, video conferencing)
  • Asset valuation tools
  • Bankruptcy forms and templates
  • Electronic filing systems
  • Case management software

Industry Examples of Bankruptcy Trustees

Common products and services typical of NAICS Code 523991-01, illustrating the main business activities and contributions to the market.

  • Chapter 7 bankruptcy
  • Chapter 11 bankruptcy
  • Chapter 13 bankruptcy
  • Liquidation bankruptcy
  • Reorganization bankruptcy
  • Personal bankruptcy
  • Business bankruptcy
  • Debt restructuring
  • Credit counseling
  • Bankruptcy litigation

History

A concise historical narrative of NAICS Code 523991-01 covering global milestones and recent developments within the United States.

  • The Bankruptcy Trustees industry has a long history dating back to the 16th century in England, where the first bankruptcy law was enacted. The role of the trustee was to manage the assets of the bankrupt and distribute them to creditors. In the United States, the Bankruptcy Act of 1898 established the role of the bankruptcy trustee, who was responsible for administering bankruptcy cases. Over the years, the industry has evolved to include a range of services such as debt counseling, financial planning, and asset management. In recent history, the industry has faced challenges due to changes in bankruptcy laws, economic downturns, and increased competition. However, the industry has also seen advancements in technology, which have enabled trustees to manage cases more efficiently and effectively.