Re: Bankruptcy and Solo Practice

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JF,

You are incorrect that all debtors are subjected to the means test.
Only debtors who make above their state's median income are subjected
to the means test. I would think you would know that, since you are
one of the few bankruptcy attorneys who are filing.

You say that you switch practice and go where the action is hot. Now,
what were you thinking when you went from real estate practice to
bankruptcy practice just after the law changed? Why did you decide to
get into bankruptcy at exactly the worst time?

I find it odd that an attorney specializing in real estate would
switch to bankruptcy at a most innopportune time, and then be able to
file several cases a month, at an unusually high fee, while doing no
bankruptcy advertising, just getting cases by referral. It does not
pass the smell test.

Also, you said recently that cops make $200,000 a year. Have you
considered joining them?

P.S.

No more bs, please.

On 3/09/06, rrr wrote:
> Ok, now I'm interested...
>
> On 3/09/06, JF wrote:
>
>>> - The income required to pass the means test is not that
>> low, usually in the mid 50s. Clients come up with the money,
>> usually becaue they stop paying their credit card bills.
>> Sometimes relatives pay, which I of course disclose to the court.
>
> Its mid $50 for a Couple. I was running the numbers and it looks
> like 24K for an individual. Or am I running the numbers wrong?
>
>>>> What does your fee agreement say about additional costs in
>>> bankruptcy, for things such as lift stay defense, discharge
>>> objections, etc.?
>> - My standard fee agreement calls for hourly fees for the
>> above, but frankly, I would not expect to get paid for those
>> services. Clients would not have the money, and most judges
>> would not let me out of the case. Sooner or later I will have to
>> bite the bullet and perform one or more of these services for
>> free (part of the cost o

f doing business).
>
> I thinks thats going to vary by Court. In our district... for
> Chapter 7's all of those things were extra, for Chapter 13's you
> were stuck. Your only remedy was to seek additional compensation
> from the plan. So in theory if there was any money you would get
> paid by screwing the unsecureds. The question is always what will
> the court view as just compensation in these situations.
>
>>> What percentage of your clients get subjected to the means
>>> test, and of that number, how many pass?
>> -All clients face the means test. About two thirds of my
>> new clients have passed; where the clients have not passed, I am
>> reviewing the feasibility of arguing for an exception to the
>> means test. Otherwise, I'll file a 13.
>
> Exception to the Feasibility test? How does that work?
>
>
>
>