Does number of Creditors effect trustee

[alh]

I was curious if any one had any experience of how the number of unsecured creditors someone has might have an effect on how interested a trustee might be in some low level assets.

For example lets say you own a car free and clear that is worth 4-5000 dollars. And say you have listed 15 creditors. Does the trustee have to divide any money they would receive between all those creditors. That would seem like it would be a lot of work for not much money. On the other hand, if it was only 2 or 3 creditors it would be much less work a trustee would have to do to disperse any money and I was curious if that might make them more intested in some assets. I realize either way the trustee would get money, but in one example wouldn't they have to do a lot more work for the same money?

Just curious in anyones thoughts or experiences.

[StaciMM]

Its really not based on the # of creditors. Each state has exemptions, to clarify how much value you can have in different types of possessions. I don't know how exactly non-exempt assets get distributed (if it is split equally among creditors, or pro-rated in a way to give more to creditors who are owed more) but the trustee DOES get a cut of anything he is able to take. Not only does the trustee work for the creditors, he is looking out for himself also...

[SinkingFast]

You should read this:

http://www.bankruptcyforum.com/t6408...pensation.html

Turns out, not much money from siezed assets makes to Creditors of any kind.

[StaciMM]

Did you notice that the percentages of that articles don't add up? It says $364,155,620 to unsecured creditors and that is supposed to be 1% of the total, but the total is $1,453,254,984 so its really about 25%. And the trustee compensation of $85,492,924 and 9% really comes out to just under 6%.