Interpreting the meaning of the numbers is a challenge. Take Chapter 7 cases, for example. In most instances, about ninety days after the case is filed, the bulk of Idaho Chapter 7 debtors are discharged and on their way to their financial future. In other words, for debtors, the system seems to be working fine. For the Chapter 7 creditor, a different look at Chapter 7 is required.
Creditors are interested in getting paid as much, and as quickly, as possible in a liquidation case.
I receive numbers from both the Administrative Office of the U.S. Courts and from the Office of the U.S. Trustee about Chapter 7 and other bankruptcy cases. Some of these statistics are revealing about Idaho, as compared to the rest of the country, concerning Chapter 7 case administration. Most Chapter 7 panel trustees in Idaho are not lawyers, nor do they have other businesses or employment. They devote all their time to working their cases, which in turn provides their livelihood. Here s what I mean.