Re: Bankruptcy and Solo Practice

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You have made some erroneous assumptions. I do not bs, please do not
make unfounded accusations.

I never said I "switched" to bankruptcy from real estate. I do not go
where the action is hot. I added bankruptcy to my practice because it
was something I did earlier in my career, something I was familiar
with (despite the new rules). Look at my posts for the past year or
so; I advocate concentration in a primary area, supplemented by
secondary areas. I practice what I preach, and my primary area is real
estate. I was able to practice almost all real estate for the past six
or seven years, but since real estate dropped off, I added bankruptcy
as a supplement (in addition to wills & trusts). Bankruptcy is not,
and never will be, my primary area.

Regarding the means test, it is you who are incorrect. All debtors ARE
subject to the means test. The ones who fall below the state's median
income pass the means test. The ones who are above the median income
fail the means test. Please look up the law before you make your
attacks.

The reason why I pass what you call the "smell test" is within your
uninformed post. Yes, many attorneys in my community have discontinued
bankruptcy practice, as they have nationwide. This has helped my
practice, because many of these attorneys remembered me as someone who
used to do quite a bit of bankruptcy. Who do you think they're
referring their cases to? Yes, bankruptcy filings are down, but so are
the amount of bankruptcy attorneys. Less attorneys, less filings equal
about the same amount of work for the attorneys who still practice
bankruptcy.

I never said that I don't advertise (another false assumption on your
part). I receive referral work from several bar associations. I also
receive work (albeit at a discounted rate) from legal insurance
programs.

I don't know why you suggest that I become a cop. I'm not the one
screaming about my failure at solo practice. I take it as an attempt
by you to throw me a jab, but I don't know why you see the need to
insult me. Whether you agree with my posts or not, I have made an
effort to share my experiences on this chatboard, and I have looked
for the same from others.

Frankly, I'm assuming you're a young lawyer who has some growing up to
do. Good luck.

On 3/09/06, Guru wrote:
> 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?
>>
>>
>>
>>