23 Jul Are Bankruptcy Judges Being Universally Defaulted by Congress?
Each day in Court, Bankruptcy Judges make critical decisions regarding the finances of debtors. Now, Bankruptcy Judges are facing their own financial situations and having to make critical decisions about their own futures.
For the fourteenth straight year, Bankruptcy Judges will not be getting a pay raise. Currently, Bankruptcy Judges earn a salary of $151,984.00 according to the Administrative Office of the U.S. Courts, which isn’t exactly chump change. However, because their salaries have not kept up with the average U.S. worker’s salary, Bankruptcy Judges are leaving the bench to pursue more lucrative careers.According to two articles that I read this weekend, in the Houston Chronicle and Daily Herald, after a long day on the bench listening to the financial problems of individuals, Bankruptcy Judges have yet another decision to make regarding their own finances. The decision is compounded because senior partners at some of the nation’s largest firms earn over one million dollars per year.
Congress needs to step up to the plate and provide the distinguished members of the Federal Judiciary with the funds they need to keep Judge’s pay in step with the average U.S. Worker. I wonder if their failure to raise the pay of Bankruptcy Judges has anything to do with the criticism they received from the Bankruptcy Judges on the new bankruptcy legislation that Congress passed in 2005. Hmmmmm.
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