TABLE 1


Table 1. First and Second Stage Sample Sizes
Chapter 7 First Stage Sample Second Stage Sample
Asset Cases 2,051 196
No-Asset Cases 41,679 2,024
Total 43,730 2,220

Note: The first stage and second stage samples were obtained as described in the text. The second stage sample is also referred to in this report as the “final selected sample.”

















TABLE 2


Table 2. Total and Admissible Chapter 7 Petitions by Circuit: Population and Sample Data for 1997
[Fifty States and District of Columbia Only]
Federal Circuit BNS Count of Petitions (Column 1) Official Count of
Petitions
(Column 2)
Total
Petitions,
Excluding
Dismissals (Column 3)
Final
Selected Sample
(Column 4)
Usable
Sample
(Column 5)
Total 925,654 952,446 941,263 2,220 2,142
First 29,632 33,059 32,406 71 63
Second 72,195 72,747 72,646 167 167
Third 55,304 61,927 61,035 131 128
Fourth 74,821 79,145 78,091 196 186
Fifth 57,276 58,142 57,205 149 139
Sixth 102,406 107,916 106,620 231 201
Seventh 87,672 93,947 93,148 199 190
Eighth 57,069 57,669 57,276 152 152
Ninth 243,528 241,167 237,256 558 556
Tenth 56,016 56,362 55,990 141 140
Eleventh 89,735 90,365 89,590 225 220

Note: The columns are derived as discussed in the text and related footnotes. The information shown for 11 circuits includes only courts in the fifty states and the District of Columbia. For display purposes, the District of Columbia has been combined with the Fourth Circuit. For this table, the First Circuit consists of the states ME, MA, NH, and RI; the Second Circuit CT, NY, and VT; the Third Circuit DE, NJ, and PA; the Fourth Circuit Washington DC, MD, NC, SC, VA, and WV; the Fifth Circuit LA, MS, and TX; the Sixth Circuit KY, MI, OH, and TN; the Seventh Circuit IL, IN, and WI; the Eighth Circuit AR, IA, MN, MO, NE, ND, and SD; the Ninth Circuit AK, AZ, CA, HI, ID, MT, NV, OR, and WA; the Tenth Circuit CO, KS, NM, OK, UT, and WY; the Eleventh Circuit AL, FL, and GA.

















TABLE 3


Table 3. Ability to Repay Debt Under H.R. 3150's Needs-based Bankruptcy Provision: 1997 Chapter 7 Filers Impacted by the Provision
1997 National
Average
Chapter 7 Filers Impacted1 15%
Debt Repayable over 5 yrs. by Ch. 7 Filers Impacted:1
Total Debt2 60%
Secured and Priority Debt2 56%
Unsecured Non-priority Debt 64%

Note: Repayment rates from the 1997 Visa national bankruptcy database were calculated on the basis of: petitioners' reported income; a combination of petitioners' reported expenses and IRS allowances as proposed under H.R. 3150; and priority and secured debt payments. See assumptions in text, and repayment methodology described in Appendix 3.

1Chapter 7 filers are impacted by H.R. 3150's needs-based bankruptcy provision if they have: income > 75 percent of national median income for families of comparable size; monthly income after allowed IRS expenses and secured & priority debt payments > $50; and can repay at least 20 percent of their unsecured non-priority debt over 60 months after making secured and priority debt payments. The 1996 national median income data by family size were obtained from the U.S. Bureau of the Census (1997).

2Repayment of secured debt is shown over 60 months. For housing debt, repayment is taken as stated by the petitioner unless the outstanding balance would have been paid off in less than 60 months. All other non-housing secured and priority debt is amortized over 60 months. In practice, petitioners may continue to repay outstanding secured debts beyond the 60 month repayment plan, which would increase the share of secured and total debt repaid.

















TABLE 4


Table 4. Ability of Chapter 7 Filers to Repay Unsecured Non-Priority Debt Under H.R. 3150's Needs-Based Provision
Share of unsecured non-priority debt repayable Share of
Filers:
Percentage of Debt Repayable in 60 Months by Actual Chapter 7 Filers Impacted:1
All
Chapter 7
Filers
Chapter 7
Filers
Impacted1
Total
Debt2
Secured2 & Priority Debt Unsecured Non-priority Debt
Debtors Not Impacted:rs
Less than 10% 81.1% 0.0% 0% 0% 0%
10-19.9% 2.1% 0.0% 0% 0% 0%
Debtors Impacted:rs
20-29.9% 1.8% 1.6% 7% 8% 5%
30-39.9% 1.2% 1.0% 2% 2% 3%
40-49.9% 2.1% 1.9% 7% 7% 7%
50-59.9% 1.5% 1.2% 6% 6% 5%
60-69.9% 1.1% 1.0% 3% 3% 4%
70-79.9% 0.8% 0.8% 3% 2% 4%
80-89.9% 1.2% 1.1% 4% 4% 5%
90-99.9% 0.7% 0.7% 3% 3% 4%
100% or more 6.4% 5.7% 24% 21% 28%
Total 100.0% 15.0% 60% 56% 64%

Note: Repayment rates were calculated on the basis of: petitioners' reported income; a combination of petitioners' reported expenses and IRS allowances as proposed under H.R. 3150; and priority and secured debt payments. See assumptions in text, and repayment methodology described in Appendix 3

1Chapter 7 filers would be impacted by H.R. 3150's needs-based bankruptcy provision if they have income > 75 percent of national median income for families of comparable size, net monthly income > $50, and can repay at least 20 percent of their unsecured non-priority debt over 60 months after making secured and priority debt payments and deducting living expenses. 1996 national median income data by family size obtained from the U.S. Bureau of the Census (1997).

2Repayment of secured debt is shown over 60 months. For housing debt, repayment is taken, as stated, by the petitioner unless the outstanding balance would have been paid off in less than 60 months. All other non-housing secured and priority debt is amortized over 60 months. In practice, petitioners may continue to repay outstanding secured debts beyond the 60 month repayment plan, which would increase the share of secured and total debt repaid.

















TABLE 5


Table 5. Main Consumer Bankruptcy Provisions of H.R. 3150
Section Element Explanation
101 Needs-based bankruptcy Shifts Chapter 7 filers with significant ability to repay into Chapter 13. Also decreases total filings as those looking to completely discharge debt may choose not to file.
103 Broaden rights so that creditors may move to dismiss a Chapter 7 case for inappropriate use Currently only court and U.S. Trustee can request dismissal.
111 Financial education before filing Requires that filers be given alternatives to bankruptcy and the opportunity to take part in educational programs on budgeting.
112 Financial education during bankruptcy Requires Executive Office of U.S. Trustees to develop a financial management training curriculum for debtors. In testing the curriculum, certain bankruptcy courts may require debtors to receive training before receiving a debt discharge.
115 Debtor's Bill of Rights Debt Relief Counseling Agencies are prohibited from advising consumers to incur more debt in contemplation of bankruptcy.
121 Discourage bad faith repeat filings Automatic stay terminates 30 days after filing if the same debtor filed a bankruptcy case which was dismissed in the previous year.
127 Stop abusive conversions from Chapter 13 When a debtor converts from Chapter 13 to Chapter 7, the “cram down” is not retained (except for redemption under Code section 722).
128 Restraining abusive purchases on secured credit Value of personal property collateral acquired within 180 days of filing is at least equal to the outstanding balance of the purchase price.
141 Nondischargeable debts Debts incurred to pay nondischargeable debts are nondischargeable.
142 Nondischargeable debts Consumer debts incurred within 90 days of filing are presumed nondischargeable.
143 Nondischargeable debts Fraudulent debts are nondischargeable in Chapter 13 cases.
145 Nondischargeable debts Debts incurred where the debtor had no reasonable expectation or ability to repay are nondischargeable.
171 Increase period between bankruptcy discharges Time between discharges would increase to 10 years for Chapter 7 cases and 5 years for Chapter 13 cases.
404 Random audits Attorney General has responsibility for establishing random audits to ensure the accuracy and completeness of filing information.
407 Additional information Debtor must provide information about income and expenses such as tax returns for 3 years and current pay stubs.
408 Timely information required Cases where the debtor does not file required information within 45 days of petition filing are automatically dismissed.
410 Chapter 13 repayment term Allows confirmation of Chapter 13 plans of at least 5 years if debtor has income over 75 percent of national median.
443 Improved bankruptcy data By creating a national database of bankruptcy filers, abusive repeat filers can be more easily detected.




















TABLE 6


Number
1993
240
1994
284
1995
324
1996
384
1997
440




















TABLE 7


Family Size:
1
20,921
2
27,962
3
33,610
4
38,554
5
35,881
6
31,829
7+
30,253


















TABLE 8


Source Month 1 Month 2 Month 3 Month 4 Month 5 Month 6
Wife 1OOO 1OOO 1OOO 1OOO 1OOO 1OOO
Husband 4500 4500 997 997 2500 2500
Relatives 1000 1000
Total 5500 5500 2997 2997 3500 3500


















TABLE 9


Family size: 3
Debt: Priority (tax) 3,000 divided by 60 months = 50 per month amortized payment**
Secured (car) 9,000 divided by 60 months = 150 per month amortized payment* based upon 300 per month car payments - 30 remaining months
Unsecured 5,000


















TABLE 10


Per H.R. 3150 Actual Income & Expenses
Budget
Monthly:
gross 3000 3000
net 2550 2550
transp –373 –373
housing+ –1250 –1250
food+ –835 –835
car* –150
taxes** –50
Tot Exp 2658
Amt Available to unsecured 0


















TABLE 11


Family size: 4
Debt: Priority (tax) 6,000 divided by 60 months = 100 per month amortized payment**
Secured 18,000 divided by 60 months = 300 per month amortized payment* based upon car loan (12,000—400 per month car pmts - 30 months) & house arrears (6,000)
Unsecured 30,000


















TABLE 12


Per H.R. 3150 Actual Income & Expenses
Budget
Monthly:
gross 5700 5700
net 4500 4500
transp –373 –373
housing+ –1918 –18001
–1002
–2503
–604
food+ –1133 –1133
car and* house arrears –300 –300
taxes** –100 –100
Tot Exp 3824 4116
Amt Available to unsecured 676 384

1Mortgage.

2Property taxes.

3Utilities.

4Property insurance.

















TABLE 13


Family size: 4
Debt: Priority (tax) 18,000 divided by 60 months = 300 per month amortized payment**
Secured 24,000 divided by 60 months = 400 per month amortized payment* based upon two car loans)
Unsecured 125,000


















TABLE 14


Per H.R. 3150
Budget
Monthly:
gross 7000
net 4800
transp –373
housing+ –1918
food+ –1424
cars* –400
taxes** –300
Tot Exp 4415
Amt Availably to unsecured 385
385 0A 60 months = 23,100


















TABLE 15


Mean Score Proportion of Students
All Students 57.3% 100.0%
Proportion of Households in State Filing Personal
Bankruptcy:
Under .5% 70.3%     1.8%
.5 to .99% 59.2%   40.3%
1 to 1.49% 56.2%   35.6%
1.5% or More 54.7%   22.3%


















TABLE 16


Additional Expense Estimate-Duty #1
Additional Duties Additional
Employees
Annual
Additional
Cost
None, because this additional Chapter 13 trustee duty is most likely a drafting oversight, and will not be imposed on the Chapter 13 trustee if this bill is enacted.


















TABLE 17


Additional Expense Estimate-Duty #2
Summary for Monthly Net Income Analysis
Additional Duties Additional Employees Annual Additional Cost
1. Determination of current monthly total income
Pay stub analysis
Includes calculation of average gross and net income per month, (per debtor in a joint case) review of payroll deductions, comparison to Schedule I, written summary regarding analysis.
.75 hr/case 350 cases = 262.50  173.33 hrs/per mo. for 1 full time employee = 1.51 employees (analyst)
Tax return review
Includes review of three years' returns, verification of yearly gross income and comparison to pay stubs and Schedule I, review of charitable contributions, tax withholding, income sources, written summary of findings. Also includes time to obtain copies of returns from the U. S. Trustee since Chapter 13 trustee is not served with copies.
2. Determination of IRS Expense allowance
Includes calculation of appropriate expenses pursuant to IRS expense allowance standards, comparison of allowance under standards to actual expenditure and adjustment, if necessary, review of all documents to support expense in excess of standard, written summary of findings. Time estimate excludes training staff in use of IRS standards and time required to remain apprised of updates.
3. Secured debt determination
Includes time to obtain and review all documents evidencing amount owed on secured debt as follows: clerical time to obtain documents from debtor or creditor, paralegal time to review documents and perform secured debt analysis.
.3 hr. 446.26 secured claims/mo. = 133.88  173.33 hrs/mo. for 1 full time employee = .77 employees (paralegal) .77 $38,580.53
4. Priority debt determination
Includes full legal analysis of all tax and non-tax priority debt, including clerical time to obtain tax transcripts and paralegal time to analyze transcripts and calculate priority tax debt.
.75 hr. 361.01 priority claims/mo. = 270.76  173.33 hrs/mo. for 1 full time employee = 1.56 employees (paralegal) 1.56 $78,163.14
Employee Totals: 9.30 $366,489.32
Other Costs:
Outside copy charges for 3 years' tax returns from United States Trustee $50,400.00
Average of 8 pages per return = 24 pages 350 cases/mo. = 8400
IRS Manual—Annual Subscription $1,156.00
Total Other Annual Costs: $51,556.00

2Employee costs include salary, payroll taxes and benefits only.

3The number of secured claims per month is calculated as follows: 350 cases/mo. = average of new cases 0A 20.8 (average number of scheduled creditors/case) = 7280 total claims/mo. 0A 6.13% (average number of secured claims/case) = 446.26 secured claims/mo.

4The number of priority claims per month is calculated as follows: 350 cases/mo. = average of new cases 0A 20.8 claims per case = 7280 total claims/mo. 0A 4.96% (average number of priority claims/case) = 361.01 priority claims/mo.

















TABLE 18


Additional Expense Estimate-Duty #3
Additional Duties Additional Employees Annual Additional cost
Review and re-analysis6
Includes review of statement of extraordinary circumstances and re analysis of monthly net income. This time estimate does not include time required to obtain additional justification if the Chapter 13 trustee determines that additional documentation is necessary.
.5 hr/case 400 cases/mo.7 = 200 hrs/mo.  173.33 hrs/mo. for 1 full time employee = 1.15 employees (analyst)
1.15 $42,490.87
Pay stub analysis
Includes calculation of average gross and net income per month, (per debtor in a joint case) review of payroll deductions, comparison to Schedule I, written summary regarding analysis.
.75 hr/case 400 cases/mo. = 300 hrs/mo. + 173.33 hrs/mo. for 1 full time employee = 1.73 employees (analyst)
1.73 $63 921.04
Plan modification
Preparation of modification order and submission to court, adjust monthly net income figure in system so proper disbursement made.
.25 hr/case 400 cases/mo. = 100 hrs/mo. + 173.33 hrs/mo. for 1 full time employee = .58 employees (analyst)
.58 $21,430.18
Noticing creditors
Includes drafting notice to creditors that summarizes change in circumstance and advises of the date that the statement of extraordinary circumstances was served on the trustee. In addition, the notice should provide the date by which objections to the statement must be filed and the amount of the debtor's new monthly net income figure.
Employee Totals: 4.22 $155,923.01
Other Costs: Noticing Creditors
Postage
400 cases 20.8 creditors/case = 8320 notices .32 ea. = $2662.40/mo.
$31,948.80
Paper
8320 notices  500 pages per ream = 16.64 reams
16.64 reams $2.20/ream = $36.61/mo.
$439.32
Envelopes
8230 @ $28.15/M = $231.67/mo.
$2,780.04
Total Other Annual Costs: $35,168.16

6It is not possible to estimate how many objections to the statement of extraordinary circumstances may be filed. Therefore, no cost or time estimates for that additional work are given.

7On average, in the San Jose trusteeship in approximately 400 cases per month the debtors cannot make plan payments due to a variety of unexpected circumstances e.g., job loss, car repair, uninsured medical expense. For this report, it is assumed that a similar number of cases per month would require a statement of extraordinary circumstances. Please note this number does not include cases where income has increased or expenses decreased.

















TABLE 19


Additional Expense Estimate-Duty #4
Additional Duties Additional Employees Annual Additional Cost
Review of statements (not performed annually, only at time of filing)
Includes analysis of projected monthly net income, IRS excess expenses, anticipated income or expenditure increase. Part of the review of these statements duplicates, to some degree, the analysis performed under Duty #2, therefore no additional analysis time has been allocated for review of the projected monthly net income statement or the statement of extraordinary Circumstances. Analysis time has been allocated for the statement disclosing anticipated income and expense increases.
Tax return (annual)
Includes review of annual post petition tax returns including time to obtain a copy of return from the United States Trustee.
Review of income and expenditure statement (annual)
Includes analysis of statement and comparison to other income and expense information received by the Chapter 13 trustee. Includes time to obtain copy from court. Includes pay stub review. Excludes time to enforce compliance if statement not filed.
Employee Totals: 6.92 $255,684.18
Other Costs: (Estimate excludes costs of obtaining statements filed at time of filing on assumption clerk's of rice will provide with petit on packet.)
Outside copy charges for the annual tax return from United States Trustee:
Outside copy charges for income and expenditure statement from clerk's office:
Average of 2 pages per statement 637 cases/mo. = 1274 copies .50 per copy = $637/mo.
Total Other Annual Costs: $38,220.00

9This number represents the average number of cases per month that would require an annual review (for tax returns and income and expenditure statements) based on the attrition rate applicable in the San hose trusteeship for the past 5 years. This number assumes the entire caseload is subject to H.R. 3150.

















TABLE 20


Additional Expense Estimate-Duty #5
Additional Duties Additional Employees Annual Additional Cost
Draft report including making recommendation regarding plan modification and nothing Auditors. Time estimate does not include time to obtain plan modification.
.25 hr/case 63710 cases/mo. = 159.25 hrs/mo.  173.33 hrs/mo. for 1 full time employee = .92 additional employees (analyst)
.92 $33,992.69
Employee Totals: .92 $33,992.69
Other Costs: Noticing Creditors
Postage
637 cases/mo. 20.8 creditors/case = 13,249.6 notices .324 ea. = $4,239.87/mo
$50,878.44
Paper
13,249.6 notices  500 pages per ream = 26.50 reams 26.50 reams $2.20/ream = $58.30/mo.
$699.60
Envelopes
13,249.60 @ $28.15/M = $372.99/mo.
$4,475.88
Total Other Annual Costs: $56,053.92

10See footnote 9 for explanation of this figure.

















TABLE 21


Additional Expense Estimate-Adequate Protection
Additional Duties Additional Employees Annual Additional Cost
Identify cases with secured debt
Includes sending letter to debtor and debtor's counsel in cases
Employee Totals: .27 $7,715.68
Other costs:
Postage (2 letters per case)
231 cases/mo. .64 = $147.84/mo = $1,774.08 /yr.
$1,774.08
Paper (2 letters plus 1 file copy)
231 cases/mo. 4 pages = 924 pages  500 pages per ream = 1.85 reams $2.20 = $4.07/mo. = $48.84/yr.
$48.84/yr.
Envelopes (2 letters per case)
231 envelopes 2 = 462 28.15M = $13.01/mo. = $156.12yr.
$156.12
Total Other Annual Costs: $1,979.04
Obtain adequate protection information at confirmation
nI cludes contacting debtor, debtors counsel, and creditor by letter for each secured claim to request accounting of remaining balance owed.
.1 hr/ secured claim 446.26 14 secured claims/mo. = 44.63 hrs/mo.  173.33 hrs/mo. for 1 full time employee = .26 employees (clerical)
.26 $7,429.91
Employee Totals: .26 $7,429.91
Other costs:
Postage (3 letters for each secured claim)
446.26 .964 = $428.41/mo = $5,140.92yr.
$5,140.92
Paper (3 1-page letters plus 1 file coy)
446.26 6 pages = 2677.56 pages . 500 pages per ream = 5.36 reams $2.20 = $11.79/mo. = $141.48/yr.
$141.48
Envelopes (3 letters for each secured claim)
3 envelopes 446.26 = 1338.78 envelopes 28.15M = $37.69/mo. = $452.28/yr.
$452.28
Total Other Annual Costs: $5,734.68
eR solve accounting discrepancies 15 N/A N/A
Grand Total Employee Totals: .53 $15,145.59
Grand Total Other Annual Costs: $7,713.72

1 3 This figure was calculated as follows: 66% of all cases (open and cased) in the San lose trusteeship filed between 1/1/91 and 12/31/97 included secured claims. (350 cases/mo. 0A .66 = 231 cases/mo. with secured claims.)

1 4 See footnote 3 for an explanation of this figure.

1 5 No time/cost estimate is given due to difficulty in estimating the number of cases in which the debtor and creditor will not agree on the amount remaining owed on the secured debt. Resolution of this type of discrepancy will likely involve a request by the Chapter 13 trustee for judicial determination of the correct amount owed.

















TABLE 22


Annual Employee/Other Costs to Perform Duties
Duty Additional Employees Additional Additional Employee Cost Annual Additional Other Costs (Postage, Paper, Outside Copying)
Duty #1 None None None
Duty #2 9.30 3$ 66,489.32 16 $51,556.00
Duty #3 4.22 1$ 55,923.01 17 $35,168.16
Duty #4 6.92 2$ 55,684.18 18 $38,220.00
Duty #5 .92 3$ 3,992.69 19 $56,053.92
Adequate Protection Duty .53 1$ 5,145.59 20 $7,713.72
Totals 21.89 $827,234.79 $188,711.80

1 6 The work under Duty #2 will be performed by the following categories of employee: clerical, analyst, and paralegal.

The salary for the clerical position was calculated as follows: $11.00/hr 0A 2080 hrs = $22,880/yr gross wages. Taxes and benefits = $5,696.58. $22,880 + $5,696.58 = $28,576.58 total employee expense.

The salary for the analyst position was calculated as follows: $14.50/hr 0A 2080 hrs = $30, 160/yr gross wages. Taxes and benefits = $6,788.58. $30,160 + $6,788.58 = $36,948.58 total employee expense.

The salary for the paralegal position was calculated as follows: $20.00/hr 0A 2080 hrs = $41,600/yr gross wages. Taxes and benefits = $8,504.58. $41,600 + $8,504.58 = $50,104.58 total employee expense.

1 7 The work under Duty #3 will be performed by an analyst.

1 8 The work under Duty #4 will be performed by an analyst.

1 9 The work under Duty #5 will be performed by an analyst.

20 The work under the Adequate Protection Duty will be performed by a clerk.

















TABLE 23


Annual Overhead Costs
Annual Additional Overhead
Office Rent 2$ 44,292.40 21
Additional In-House Photocopy Costs 41 ,315.52 22
Filing Room Costs 61 ,149.70 23
Maintenance on Additional Equipment 1,971.00
Totals $276,728.62

2 1 21.89 new employees 0A 300 sq. ft/employee = 6567 sq. ft. 0A $3.10/sq. in. = $20,357.70/mo. = $244,292.40/yr.

2 2 Notices listed in preceding tables plus additional miscellaneous in-house copying = 32,000 copies/mo. 0A .03728 = $1192.96 = $14,315.52/yr.

2 3 Due to the increased paperwork required in every case substantial additional annual filing space will be required as follows: 14 Additional filing units/yr. 0A $400 = $5,600; Rent: 12 sq.

















TABLE 24


Non-Annual Overhead Costs\24\
Personal Computers and Modular Work Spaces for New Employees 1$ 09,450.00 25
Tenant Improvements for Additional Office Space 94 ,252.50 26
Additional Equipment 51 ,000.00 27
Totals $173,702.50

2 4 This amount would be expensed in the first year after increasing staff and would lower trustee percentage fee by .56% after the first year if all other expenses remained the same after the first year.

2 5 PC & printer $2800 + modular workspace $2200 = $5,000 0A 21.89 employees = one time cost of $109,450.00. No maintenance costs have been factored into this figure.

2 6 Tenant improvements average $7.50 per sq. ft. 0A 300 sq. ft. per new employee 0A 21.89 employees = $49,252.50

2 7 Three laser printers 0A $5000 = $15,000.

















TABLE 25


Grand Totals
Additional Employees Annual Additional Employee Cost Annual Additional Other Costs Annual Additional Overhead Non-Annual Overhead
21.89 $827,234.79 $188,711.80 $276,728.62 $173,702.50




















TABLE 26


$1,466,377.71


















TABLE 27


Current Under H.R. 3150
Total trusteeship income based on 5.2% fee $1,777,500.00 Total trusteeship income based on 10.12% fee $3,271,700.00
Total operating expenses –$1,673,087.000 Total operating expenses
Total operating reserve (not to exceed 17% of total operating costs) $104,413.000 oT tal operating 28 reserve (not to exceed 17% of total operating costs) $132,235.29

2 8 Total operating expenses under H.R. 3150 would be $1,673,087 (current) plus $1,466,377.71 (additional) = $3,139,464.71

















TABLE 28


Net Effect to Unsecured Non-Priority Creditors Due to Increased Percentage Fee
Current Under H.R. 3150
Total Dollars Disbursed Annually to Creditors at 5.20% Trustee Percentage Fee Based on $31,000,000 Receipts $29,388,000
Total Dollars Disbursed Annually to Creditors at 10.12% Trustee Percentage Fee Based on $31,000,000 Receipts $27,862,800
Annual Amount Lost to Creditors Due to Increase in Trusteeship's Expenses $1,525,200




















TABLE 29


54-594
SUBCOMMITTEE ON
COMMERCIAL AND ADMINISTRATIVE LAW
H.R. 3150, H.R. 2500, and H.R. 3146
Serial No. 70
S
COMMITTEE ON THE JUDICIARY
HENRY J. HYDE, Illinois, Chairman
F. JAMES SENSENBRENNER, Jr., Wisconsin
BILL McCOLLUM, Florida
GEORGE W. GEKAS, Pennsylvania
HOWARD COBLE, North Carolina
LAMAR S. SMITH, Texas
ELTON GALLEGLY, California
CHARLES T. CANADY, Florida
BOB INGLIS, South Carolina
BOB GOODLATTE, Virginia
STEPHEN E. BUYER, Indiana
ED BRYANT, Tennessee
STEVE CHABOT, Ohio
BOB BARR, Georgia
WILLIAM L. JENKINS, Tennessee
ASA HUTCHINSON, Arkansas
EDWARD A. PEASE, Indiana
CHRISTOPHER B. CANNON, Utah
JAMES E. ROGAN, California
LINDSEY O. GRAHAM, South Carolina
MARY BONO, California
JOHN CONYERS, Jr., Michigan
BARNEY FRANK, Massachusetts
CHARLES E. SCHUMER, New York
HOWARD L. BERMAN, California
RICK BOUCHER, Virginia
JERROLD NADLER, New York
ROBERT C. SCOTT, Virginia
MELVIN L. WATT, North Carolina
ZOE LOFGREN, California
SHEILA JACKSON LEE, Texas
MAXINE WATERS, California
MARTIN T. MEEHAN, Massachusetts
WILLIAM D. DELAHUNT, Massachusetts
ROBERT WEXLER, Florida
STEVEN ROTHMAN, New Jersey
Thomas E. Mooney, Chief of Staff-General Counsel
Julian Epstein, Minority Staff Director