Bankruptcy System Overhaul: Trustee Pay Increase and Judge Term Extensions.
This Act doubles the compensation for Chapter 7 bankruptcy trustees from $60 to $120 per case, adjusting it for inflation, to ensure the efficiency of the bankruptcy system. It also extends the terms of temporary bankruptcy judgeships from 5 to 10 years to manage increasing consumer and business caseloads. Importantly, the law confirms that filing fees for individuals remain unchanged, and fee waivers for indigent persons are protected.
Key points
Chapter 7 bankruptcy trustee compensation is doubled to $120 per case and will be indexed for inflation, addressing stagnation since 1994.
Terms for temporary bankruptcy judgeships are extended from 5 to 10 years to maintain court capacity for high caseloads.
The Act ensures that filing fees for individuals seeking bankruptcy relief are not increased, and fee waivers for low-income filers remain available.
Status:
Expired
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