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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 12404
Experience:  JD, MBA
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i filed for a chaper 7 bankrupycy the court is salling my asselts

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i filed for a chaper 7 bankrupycy the court is salling my asselts which is 95,000.i owe 80,000. who gets the 15000 left over?
Hello and thank you for allowing me the opportunity to assist you.

If all of your debts equal $80k and can be paid off entirely, and if there is a surplus, then you would get the surplus. But you must also keep in mind that the trustee will get a commission for selling the assets, so you should figure about 10% will go to the trustee.

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Customer: replied 4 years ago.

the assets have been paying royalties , doesthe trustee get to keep the royalties beeing paid from the assets over the last year?

Hi again.

The trustee cannot personally keep the royalties, but he can use the royalties to pay down your debt.
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