Doubling Bankruptcy Trustee Pay and Extending Judgeships to Improve Court Efficiency.
This Act aims to modernize the bankruptcy system by doubling the fixed compensation for Chapter 7 trustees, which has remained unchanged since 1994. Crucially for citizens, the law does not change the filing fees for consumer bankruptcy or the ability of low-income individuals to have those fees waived. Furthermore, the Act extends the terms of temporary bankruptcy judges to ensure courts can handle current and future caseloads efficiently.
Key points
Fixed compensation for Chapter 7 bankruptcy trustees is doubled from $60 to $120 per case, aiming to improve the administration of consumer bankruptcy cases.
No changes are made to the Chapter 7 filing fees paid by individuals, and fee waivers for indigent filers remain available.
Terms for several temporary bankruptcy judgeships are extended from 5 years to 10 years to maintain court capacity.
Status:
Became Law
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