Each month the bankruptcy trustees hold a roundtable, brining together bankruptcy professionals from all over Middle Tennessee to discuss current trends and best practices.
In September, the roundtable discussion focused on the surcharge of monthly mortgage payments. Traditionally, the trustee’s office has assumed the cost of each client’s monthly mortgage payment fees. Going forward, in any cases confirmed after October 1, the client will be responsible for the fees associated with their monthly mortgage payments.
As a result, the trustee’s overall percentage cost of administering a case will be lower, which will ultimately benefit both the trustee and the client.