ShareYou definitely want a good result in your bankruptcy case, but what will your relationship with your bankruptcy lawyer be like? What should you expect when you meet with the lawyer? Will it be scary or uncomfortable? Will the lawyer keep you informed and on track before and during the case? You deserve to know exactly what to expect.
An experienced bankruptcy specialist knows how to properly “handle” the relationship with a new client. This may be the first or the only serious interaction a consumer has ever had with a lawyer. At Bayer, Wishman & Leotta, we think that if more consumers know how they should be handled, then we would not hear as many bankruptcy horror stories as we do.
Let’s face it, if you know you are being properly guided through the preparation and filing of your case, you will have confidence that your bankruptcy will get you the result you seek. So let’s take a look at some things that you, as a client, should expect from your bankruptcy attorney. If you don’t see these things addressed when necessary by your lawyer, you might be headed for trouble. We hope you will notice a pattern of preparation and follow up that are crucial to a successful relationship with your lawyer. Continued…
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Posted in Chapter 13, Chapter 7, Choosing A Lawyer, Uncategorized.
By Leon Bayer
– May 20, 2011
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In a Chapter 13 bankruptcy you may be able to eliminate your second mortgage or home equity line of credit (HELOC). This option exists for homeowners facing bankruptcy in California where many homes values are still “upside down” and property values are “underwater.” This might apply to you if you are considering bankruptcy to deal with a pending mortgage default or foreclosure.
Called “Lien Stripping,” the process of removing a HELOC or other lien on your property is one of the tools that could be a game-changer for your financial situation. In order to remove a second mortgage or HELOC, Continued…
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Posted in Chapter 13, Uncategorized.
Tagged with chapter 13, HELOC, lien stripping.
By Leon Bayer
– May 16, 2011
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Sometimes clients ask exactly the right question—one that lawyers hate to answer. You should be bold enough to ask any bankruptcy lawyer this question, even if the dollar figures may vary from region to region. Here’s the question that a prospective client asked me recently:
This may sound like a dumb question, but may I ask why I found a big difference in the fees quoted among so many attorneys in Los Angeles? I was quoted anywhere from the low side of $1,000 to the high side of $3,800 for a Chapter 7 case.
First, I believe there are no dumb questions, only dumb lawyers. Continued…
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Posted in Chapter 7, Choosing A Lawyer, Uncategorized.
Tagged with bankruptcy, comparing lawyers, different fees, fees.
By Leon Bayer
– April 3, 2011
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A creditor wants to know if he should be represented by an attorney, and if the legal costs will be recovered from the borrower in a Chapter 13 case. Believe it or not, we sometimes get questions from creditors asking how they can collect the money owed to them by a person who has filed bankruptcy.
This was the case for a person that held the mortgage on real property owned by a borrower who filed Chapter 13: Continued…
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Posted in Chapter 13, Choosing A Lawyer, Foreclosure.
By Leon Bayer
– March 24, 2011
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As part of its “Inside The Minds” series, Aspatore Books has published Trends in Consumer Bankruptcy Filings: Leading Lawyers on Understanding the Current Bankruptcy Landscape, Navigating the Filing Process, and Educating Clients.
I wrote a chapter in this new book about the key strategies for managing twenty-first-century bankruptcy cases. The book is available directly from the publisher here and on the web at sites like Amazon.com.
Aspatore Books, the publisher, is a Thomson Reuters business and exclusively publishes books for executives and lawyers, collaborating with the world’s most respected companies and law firms. According to Aspatore Books–
“Trends in Consumer Bankruptcy Filings provides an authoritative, insider’s perspective on advising clients in today’s bankruptcy environment. Featuring experienced attorneys from around the country, this book guides the reader through the recent developments in the consumer bankruptcy arena, including how the current economy and the continuing effects of BAPCPA are impacting clients and cases.” Continued…
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Posted in Bankruptcy In The News, Chapter 13, Chapter 7, Choosing A Lawyer, Means Testing, Uncategorized.
Tagged with aspatore books, BAPCPA, consumer bankruptcy trends.
By Leon Bayer
– January 20, 2011
Share“Ho
w often have you wished you could predict how the judges and government agencies involved in bankruptcy cases might view your filings?” That’s one of the questions asked by the National Business Institute, the sponsor of an educational forum titled—“What Judges and Bankruptcy Trustees Want You To Know.”
I am honored to be speaking at this program along with the Hon. Barry Russell, Bankruptcy Judge in the Central District of California, and a panel of outstanding bankruptcy professionals. According to the National Business Institute, this program will provide bankruptcy lawyers with “the opportunity to learn about bankruptcy from the view of decision makers and professionals who work in the field every day.” Continued…
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Posted in Bankruptcy In The News, Chapter 13, Chapter 7, Choosing A Lawyer, Means Testing, Uncategorized.
Tagged with bankruptcy, chapter 13, chapter 7, means test, seminar.
By Leon Bayer
– January 17, 2011
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Many homeowners that need a loan modification are worried about “loan modification scams”, especially in California. And they should. According to the new National Loan Modification Scam Database, reported losses of “fee payments” to scam artists between May and September of 2010 totaled nearly $17.7 million. While this is a nationwide database of scam complaints, the largest percentage comes from California. So let me share with you a little information about this new database. And let me help you with some ways to avoid loan mod scams.
The Loan Modification Scam Prevention Network (LMSPN) was launched on April 26, 2010 and is led by Fannie Mae, Freddie Mac, , the Homeownership Preservation Foundation (1-888-995-HOPE), NeighborWorks America (LoanScamAlert.org) and the Lawyers’ Committee for Civil Rights Under Law (PreventLoanScams.org). This group publishes a monthly “Scam Database Report” and also maintains a “list” of reported scam artists in most states. Their June 2010 Report shows that for homeowners over 50 years of age, almost half of the complaints nationwide came from California. And sadly, 33% of those reported some attorney involvement. More on that below.
According to a loan service industry news report, the most common type of loan modification scam begins with Continued…
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Posted in Chapter 13, Chapter 7, Choosing A Lawyer, Credit Counseling.
Tagged with loan modification, loan modification scams.
By Leon Bayer
– November 5, 2010
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Can your Home Owner Association (HOA) “get you” for dues and fees after you file bankruptcy? Will using the wrong lawyer for bankruptcy “cost you”? Yes, and yes! We often answer bankruptcy questions on our website from troubled folks around the country. I’m sharing a question and a situation today that we see a lot. If you are in foreclosure and expect to give up your home, please meet with a qualified bankruptcy lawyer if you want to avoid serious problems, including this:
Ken writes—”I filed bankruptcy in 2008 and let my home go to foreclosure. My HOA fees were almost current when I filed. My attorney advised me not to pay any more HOA fees—that I would be protected by my bankruptcy. It took about 18 months after my bankruptcy for my bank to take possession of the property. Now the HOA wants me to pay all the past due fees (about $22,000) before the bank took possession. Am I responsible? I can’t afford to pay. What can I do? This has caused me so much stress that I haven’t been able sleep lately and it is affecting my health.”
This happens far too often and could be the result of bad bankruptcy advice or poor communication between a client and his lawyer. So, what would I tell Ken? Continued…
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Posted in Chapter 13, Chapter 7, Choosing A Lawyer, Foreclosure, Uncategorized.
Tagged with 2005 amendments, bankruptcy, delinquent HOA dues, foreclosure, homeowner associations.
By Leon Bayer
– October 27, 2010
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Guest author, Steven Fox, has practiced bankruptcy law since the late 1980′s and has offices in the Los Angeles area. He has a solid understanding of how businesses work and provides good counsel for troubled individual and business debtors. His clients include manufacturing companies in a wide range of industries, retail stores and individuals.
Do you believe that you or your business may need to file for a Chapter 11 “Reorganization”? Do you know the single most important strategy for success in Chapter 11? Most troubled business owners don’t because, as you’ll see below, most Chapter 11 cases fail. If you want your case to succeed, you’ll need an effective exit strategy. And you’ll need to develop this strategy with your attorney before you file your case with the Chapter 11 goal of getting in and getting out!
I’ll share with you some basic information about Chapter 11 and some statistics that may shock you. And they should. Then I’ll review some of the elements that experienced Chapter 11 attorneys look for in planning successful business reorganizations or individual debt restructures. Continued…
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Posted in Chapter 11, Foreclosure.
Tagged with business reorganization, chapter 11, exit strategy.
By StevenFox
– October 18, 2010
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STOP Bill Collectors
An annoying phone call from a bill collector shouldn’t ruin your day. You can best deal with them by putting them “on the defensive” and knowing your rights.
Many people that I consult with at Bayer Wishman & Leotta expect to file bankruptcy in the near future. So they often ask me what to do about annoying bill collectors before they actually file their petition. Here’s what I tell them:
The next time a bill collector calls, use a calm voice and say you are now recording the call, (even if you are not), Continued…
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Posted in Chapter 13, Chapter 7, Choosing A Lawyer, Credit Counseling.
Tagged with bill collectors, debt collection.
By Leon Bayer
– October 6, 2010
