Charting The Course of A Case

To obtain good results for a bankruptcy client, sometimes you have to serve up unpleasant news and force the client to swallow that bitter pill. Of course, you can’t really force them to do anything, but you should consider taking on a client who shrugs off your advice. Case in point A new bankruptcy lawyer […]

Bankruptcy Exemptions: 10 Ways to Deal with Excess Cash

Bankruptcy lawyers occasionally are confronted with the client with more cash, or other marketable assets, worth more than the available exemptions to protect them. And state exemption systems often protect the darndest things, like a mule and a plow.  A milk cow.  The family bible. Those aren’t the things most of us are striving to […]

Assets in Bankruptcy Pose Valuation Issues

A bankruptcy lawyer seems to often have the unpleasant task of telling a debtor that their possessions have little value. I don’t know whether it’s a defense mechanism or just ingrained thinking,  but I have clients tell me all the time that their assets have values far beyond what seems likely in the current market. […]

Alternative to Bankruptcy: Do Nothing

Bankruptcy lawyers sometimes forget:  not everyone worried about debt actually needs to file bankruptcy. The anxiety that brings someone to your office may not be grounded in a real understanding of the rights of their creditors. I recently saw a woman drawing disability pay and looking at very substantial retirement income.  It seemed unlikely that […]

Beware the Emergency Bankruptcy Filing

Real danger for client and lawyer lurks in the emergency bankruptcy petition: File without all the information about the client’s assets and recent transfers and you risk getting family members sued and the client losing assets. Not to mention your loss of face or worse. Avoidable transfers Chapter 5 of the Bankruptcy Code deals with […]

Exemption Choices for the Recently Mobile

Old and new consumer bankruptcy lawyers have a treasure in John Bates’ masterpiece on the exemption laws of each state and the availability of those laws to non residents in bankruptcy. Why do I care what the exemptions are in any state but California?  The Bankruptcy Code! ( what other answer did you expect from […]

Timing Is Everything In Bankruptcy

All three consultations on Friday featured clients intent on filing bankruptcy IMMEDIATELY. Each of them was  certain that they had no time before some disaster would befall them if they didn’t file bankruptcy.  Yet, as we talked, I concluded the consequences of an immediate filing were worse than the perceived goblins chasing the clients Waiting, […]