Oh, and as for the original question, you can always (a) ask your counsel, if any, or (b) call or email the trustee on your case and ask about it. Most trustees and their staff are open to general questions, as long as you're not seeking legal advice. After all, they are acting on behalf of your estate.
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Creditors didn't make a claim, what happens to the extra money from assets?
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Originally posted by CarolynTIXE View PostKeep in mind here that a trustee receives MINIMAL compensation for each case that is filed (we're talking less than $100)All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......
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Good point frogger. No doubt they have a chance to receive a commission, but only when funds are disbursed or turned over.
In the frequent event of a no asset case, the trustee receives a total of $60 to administer the case. In 2012 nearly 90% of chapter 7 cases filed were no asset cases. This fee was established has remained constant since 1994! It has become a volume-dependent enterprise. In places like Los Angeles, where filings topped the charts in the past few years compared to the rest of the country, this can net an okay amount of money, still considering the $60 includes compensation for the trustee's staff as well. But in the slower places, like many mid-west regions, these trustees really have to sing for their supper.Carolyn, TIXE Consulting
*I do not provide legal advice or representation. Please seek advice of a licensed attorney.
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