Can a trustee seize real estate commissions?

[jjwalker]

Any body have experience being a real estate agent and claiming bankruptcy.
How can they seize a commission when that would be used to feed your kids?

[aa06a47]

I don't have experience in being a real estate agent, but what chapter are you filing?

When I filed my Chapter 13, I received a letter from the trustee that stated: "The Court, having determined that is has exclusive jurisdiction of your wages, salaries, commissions and future earnings for the purpose of paying your debts...."

Chapter 7 is differnt, I think, in that anything you have the day you file is in the "estate". Anything after the date you file is pretty much yours. I don't think that would say if you get a million dollar commission check the day after you file, you would get to keep it.

[Minnymouth]

Depends on what Chapter you are filing 7 or 13......

And believe me - Trustee doesn't care where you get your money to feed your kids.......... You will be allowed so much in a Chapter 13 for groceries..... rest Trustee will get - no matter where it comes from - commission or not....

Basically your commission is your paycheck.............

Chapter 7's are handled different. The money noted on the day you file the Trustee can take..... after that date any income is yours unless you have windfall of "big bucks"...... (lottery, inheritance, etc.).

[SinkingFast]

I would think the Court will average your commissions for a certain period of time, looking back, to determine your income level.

If you're Ch 13, plan payments will be based on that avg. If you're Ch 7, the only thing at risk is what's in the bank the day you file if you can't exempt it in some way.