ive heard the term court appointed trustee, your court fees are paid and the court appoints a trustee over your BK? since no one works for free who pays the trustee? how does that work??
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Your petition is assigned to a judge who passes it on to a US Trustee, who in turn passes it on to a Trustee appointed by the Court (this is all they do).....
Any assets this Trustee can find he makes a commission off of it (big time)... especially if they can put you in a Chapter 13. Trustees do not make a lot off of Chapter 7's... just a basic fee paid by the court.
The money is in assets they can seize and sell or Chapter 13 payment plans of which they gt a cut.
BELIEVE ME - they make big bucks...... no doubt about it..... mine sure did.... off me!!!!Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
Although they may not make a fortune from each case, currently they are busier than McDonalds at lunch time. My trustee has his own practice and works 1 day a week as a trustee. At our 341, he was seeing 4 cases every 15 min. period. 60 cases an hour 480 per day. If they even average only $100 per case and have to spend 1 day in preparation, that's still about $5000 a week for 2 days work, 1 of which can be done at home with your feet up, drinking a beer and watching TV. Not too bad, in my opinion. ArtComment
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I want to be a trustee...Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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hi
thats cool, they wont be making any money off me.Originally posted by MinnymouthComment
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What is pacer?
what is this pacer i keep hearing about, and would it appy to me, of course it must apply to someone, but i do not know what it is....Originally posted by davidsComment
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pacer is a gov site where you can track the paperwork on your bankruptcy case. They charge $.08 a page to view some of the docments, nothing for others.
Check out the pacer website once a week to see whats happening with your case....
Look under Bankruptcy News on this forum and it gives the website and info about pacer
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
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