Use All Channels to Educate Bankruptcy Debtors

The skill set of a consumer bankruptcy lawyer must include a healthy dose of  the skills of a teacher. The client has to master any number of legal issues and procedures to make informed decisions about the case.  An effective lawyer has a plan for how to convey all those things the debtors need to […]

New Bankruptcy Lawyers Targeted by Trustee

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 […]

Exemptions & Property of the Estate

Sometimes, as an inexperienced bankruptcy lawyer,  it’s hard to get your head around the idea that your client can have an asset of substantial value and not need to exempt it when filing bankruptcy. That’s because only property of the estate is potentially available to pay the client’s creditors in a bankruptcy, and some assets, […]

Surrendering Property in Bankruptcy

Your client’s statement that he is surrendering property in his bankruptcy case is nothing more than a statement of future intentions.  It does not serve to transfer the property from the debtor to the secured creditor, or any one else. I was reviewing a draft bankruptcy petition for a new lawyer where his client’s  husband […]

New Bankruptcy Lawyer: Meet Old Car Allowance

Bankruptcy courts have embraced an unwritten deduction for older cars for purposes of the means test.  You won’t find this deduction in the official forms and I’ve had a hard time finding the text in the  on- line Internal Revenue Manual, but the cases repeatedly cite Internal Revenue Manual 5.8.5.5.2 as authority for allowing debtors […]