An extra $60 will now be processed by bankruptcy courts for every case payment for some Chapter 7 trustees in Louisiana from the fiscal year 2021. Not all Chapter 7 bankruptcy trustees are eligible, though.
Does this apply to me?
The cases that this change applies to include ones that were filed from January 12th, 2021, through September 30th, 2021, inclusive. This also pertains to Chapter 11, 12, and 13 cases that were later changed to Chapter 7 bankruptcy cases if the filing took place within that same time period.
If you are a Chapter 7 trustee who is eligible, securing this additional $60 payment involves certifying that you have rendered the services that were agreed upon in the terms of the regulations. This is done by filing a Trustee Services Rendered Pursuant to 330(e).
Patience is a virtue
Don’t worry too much if the clerk’s office at your local bankruptcy court doesn’t process your payment right away. These offices are often bogged down with requests, and it only slows down the process more by calling and asking about the status of your payment.
Once you’ve received your first payment, the following installments will come annually after the fiscal year is over. The available payment amount is generally calculated every year and is determined mainly by how much money there is in the United States Trustee System Fund.
For many Chapter 7 trustees, as well as cases that were converted to Chapter 7, a new $60 payment is now available. But being a trustee doesn’t automatically secure your eligibility, so make sure that you’re well-informed to find out if you can expect this additional payment. As long as the case was filed no earlier than January 12th, 2021, and converted no later than September 30th, 2021, you may be eligible.