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How much is a Bankruptcy Trustee paid? if not elected how does one become a Bankruptcy trustee?

  • beachloveric posted: 30 Jun at 5:38 am

    I was a Trustee in Bankruptsy in the UK before coming to the states. There bankruptsies are managed by a court department called the Accountant in Bankruptsy. My qualifications were a college degree in Legal Studies and Accounting. I had around fifty cases that I worked at any one time. The salary for that job in the UK is thrity five to fifty thousand dollars.

  • gyro-nut64 posted: 30 Jun at 6:50 pm

    I filed Ch.7. My trustee got $400, My attorney got $300 and I got the shaft. I had to pay $10,000 in one year on credit cards. That was to keep my property and before they changed the bankruptcy Law on credit cards. That was pretty hard to do on S.S. and $352 a month retirement, but I did it. My credit score is or was 675 and do you think I could get the interest down a little on another loan? No. I did get some more money on a credit card but my interest went from 23.9% to 31.9%. Thanks to Capital One Bank.

    Don’t get me wrong about Capital One Bank. They are all like that. I went to my bank where I deal for years and asked for a loan to pay off my credit card and get a lower rate. They would not even talk to me. Well, I take that back. They did say NO!!!, maybe in five more years. Trust me, when you file Ch.7, your life is just about ruined.

    It’s all about money for them. They want to keep you in the bottom of the barrel

  • WHUFF posted: 01 Jul at 1:18 pm

    The fees a Trustee receive can vary between 5 and 10% of what he disburse.

    In order to become a Trustee, you would have to wait until a vacancy becomes available. Once one become available you can apply with the Department of Justice and they will conduct a thorough investigation from the FBI interviewing your references.

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