This week I have apparently discovered bankruptcy lawyers who can’t count to 90. Amazing, isn’t it? Yet I’ve reviewed two cases where counsel failed to file the case such that judgment liens fell within the 90 day preference period. And these were cases where the liens had six figure totals and the debtor had assets. […]
Primer on Reaffirmation Agreements
Every Chapter 7 case with a car loan presents a reaffirmation dilemma. Should the client reaffirm? Should you certify “no hardship”? What happens if the judge rejects the agreement? Dallas bankruptcy judge Stacey Jernigan laid out a primer for attorneys on how it’s done and what judges in her district expect from bankruptcy practitioners in […]
Means Test: Encouraged to Screw Up
With the influx of new personnel at the trustee’s office, I’m seeing more flat wrong objections from the trustee’s office to means test issues. One consistent theme is the assertion that the expense deducted is measured by the past six months. Balderdash. Even after BAPCPA, the means test is a tool for measuring projected disposable […]
Four Means Test Mistakes: Taxes
Are you guilty of any of these means test mistakes dealing with taxes? Using the tax deductions from the pay stubs when your client traditionally owes taxes payable with the return Using the tax deductions from the paystubs when your client traditionally gets a substantial refund Using last year’s tax as the measure for the […]
Means Test: Good Enough Isn’t Good Enough
Early in the life of BAPCPA, I sat down to review a means test with a new bankruptcy lawyer. The first part of the form seemed to be complete and make sense, but as I worked my way deeper into the document, unexpected lines were blank, or numbers were small relative to my expectations. Doesn’t […]
Maximizing the Initial Client Interview
The first meeting with a bankruptcy prospect is the best and hardest work I do. It’s probably the most important as well. I use it to figure out what the issues in the case are, what the client’s goals are, and to convey what I will need from the client to produce a successful outcome. […]
Newbie Summer Reading: Rake v. Wade
One more case before summer’s over: Rake v. Wade. This one is interesting because it dealt with a central issue in Chapter 13: whether the Bankruptcy Code requires payment of interest on mortgage arrears (which are usually themselves mostly interest) even when the underlying loan documents do not provide for interest on arrears. And even […]
