Howdy, nice of you to drop in. Now, I’ve got two reasons for you to skedaddle out of here. Bankruptcy Rule Changes New bankruptcy rules took effect December 1. If you can’t recite them in your sleep, the National Consumer Law Center has generously made their otherwise subscription only newsletter available for free. Click on […]
Finding Exemption Gold In The Probate Code
Would you expect to find an exemption applicable in bankruptcy in the probate code? But that’s where I found one yesterday. And if it exists under California law, it may exist where you practice as well. A testamentary trust paying some current income to a prospective client sent me to the cases. I needed to […]
Expect The World, New Bankruptcy Lawyers!
The New York Times challenges us to “Expect The World.” For the new bankruptcy lawyer, that world has limited horizons. Can we work together to change that? The front page piece of the Grey Lady recently exposed that newly admitted lawyers can’t practice law. Had the reporter contacted me for input, I would have pointed […]
How Long Can Underwater Lien Hold Its Breath?
What happens to an underwater mortgage after a Chapter 7? That was the sorta metaphysical question my newbie luncheon partner asked at the NACBA workshops this fall. She knew that you could not strip off a consensual lien in a Chapter 7. So, just what was the situation post discharge? I really like questions 1) […]
Consumer Is A Bad Word
I’m not usually at a loss for words, but I’m certainly less than excited about the word “consumer”. As a moniker for our potential clients, it’s inadequate. After all, how perverse to identify them by a trait we’d like to change, consuming. Yet, I’m struggling for another word. “Debtors” is a word the public confuses […]
What Are We Worth As Bankruptcy Lawyers?
I sat with a new client discussing his bankruptcy options, puzzling how to price a Chapter 7 that’s fair to me and fair to the client. To the client, it no doubt looked like a “simple” Chapter 7: a job, a couple of pieces of underwater property, no taxes, no spouse, no sweat, right? To […]
Tell Them Apart: Exempt and Exclude
New and not so new bankruptcy lawyers muddle the difference between “exempt” and “exclude“. It makes a world of difference. You have to make the call when listing property of the bankruptcy estate, usually various kinds of retirement assets. All of the debtor’s assets and legal rights come into the estate. Exemptions allow you to […]
