FOR IMMEDIATE RELEASE WEDNESDAY, OCTOBER 1, 1997

UST (202) 514-2008 TDD (202) 514-1888

NEW JERSEY CHAPTER 13 TRUSTEE APPOINTED WASHINGTON, D.C. -- U.S. Trustee Patricia A. Staiano today announced that Isabel Balboa, Esq., has been appointed Chapter 13 Standing Trustee for the District of New Jersey, Camden Vicinage. Balboa will administer funds paid by Chapter 13 bankruptcy trustees to their creditors in order to discharge their debts. Staiano is U.S. Trustee for New Jersey, Pennsylvania, and Delaware. The Office of the U.S. Trustee is a component of the U.S. Justice Department that ensures the integrity of the federal bankruptcy system and appoints private bankruptcy trustees for cases under Chapters 7, 12, and 13 of the Bankruptcy Code. In a Chapter 13 case, the debtor and creditors agree to a plan for debt repayment within either three to five years. The Chapter 13 standing trustee's duties include investigating the financial affairs of Chapter 13 debtors, evaluating debtors' repayment plans, receiving play payments on behalf of creditors, and disbursing payment to creditors pursuant to the debtors' court-approved repayment plans. As Chapter 13 standing trustee, Balboa will administer more than 8,500 Chapter 13 bankruptcy cases and disburse millions of dollars to creditors each year. The Chapter 13 standing trustee position occupied by Balboa is newly created to address the increasing volume of bankruptcy filings in New Jersey. Prior to Balboa's appointment, Robert M. Wood, Esq., served as Chapter 13 standing trustee for both the Camden and Trenton Vicinages. Wood will continue as Chapter 13 standing trustee in the Trenton Vicinage. Balboa was born in Cuba and emigrated to the U.S. with her family in 1962 to settle in Florida. After graduating from Miami High School, Balboa received her Bachelor's Degree in History and English in 1976 from Barry University, where she also received a Master's Degree in Business Administration. After working for Amerifirst Federal Bank and Bank of America, Balboa began her legal education at Rutgers University School of Law. There, she worked with the late Distinguished Professor Albert Blaustein, and received the BNA Book and Am Jur Trial Advocacy Book Awards. Balboa received her Juris Doctor degree from Rutgers in 1989. During her legal career, Balboa clerked for former Presiding Judge Myron H. Gottlieb of the New Jersey Superior Court, Burlington County, Civil Division. She was subsequently employed by the Westmont, N.J. law firm Brown & Connery until she was

appointed Chapter 13 standing trustee. While with Brown & Connery, Balboa served as co-chair of the Camden Vicinage's Advisory Committee on Minority Concerns, regional trustee to the Hispanic Bar Association, board member of the Camden City Chamber of Commerce, member of the bankruptcy court Lawyer's Advisory Committee, and a bankruptcy court mediator. As Chapter 13 standing trustee, Balboa will maintain offices at Cherry Hill Corporate Center, 535 Route 38, Suite 580, Cherry Hill, N.J., 08002. # # # 97-408