We live in two different worlds, the client and the bankruptcy attorney. (care to hum along?) “Creditors”, for debtors, means those folks who send a monthly bill, and who call if you are late. “Creditors”, for bankruptcy lawyers, means everyone who has a claim of any kind against the client. In his Fundamentals of Bankruptcy…
Comes the plaintive call on the phone: how do I list this? Faced with a blank schedule and a house, located in another state, titled to an estranged non filing spouse, in which the debtor may have a claim under the marital property laws of California, the rookie bankruptcy lawyer froze. I’m flattered to be…
I almost took the client at her word and filed schedules that told half the story. Well, maybe it was 3/4 of the story, but the client who, to my consternation, seemed to enjoy nit picking the draft schedules, told me about the cabin on the lake that they rent out, but omitted the rental…
Chapter 7 trustees plan to sue debtor’s lawyers for undisclosed assets, I was told yesterday. In the course of discussing the flood of rookie bankruptcy lawyers into local court rooms, this veteran trustee’s counsel was licking his chops at the opportunity to make creditors whole at the expense of the debtor’s attorney. The stories of…