The information contained in this article is solely intended to increase the skills of paralegals and other legal staff who are employed virtually or non-virtually by bankruptcy attorneys. This information is NOT taught in any law school or paralegal training course.
WARNING: This information is not to be used by non-attorneys to prepare bankruptcy petitions for the general public. The information is solely intended to train legal professionals working under the direction of licensed bankruptcy attorneys.
Training in drafting bankruptcy petitions for bankruptcy legal professionals
Bankruptcy Petition Drafting Tip 3
Angie Boyd and I were talking on the phone yesterday and she said to me: “I am so stressed and frustrated. I am working on a rush bankruptcy petition that must be filed today. I cannot get in touch with the client or the attorney to get the paycheck stubs so I can complete Schedule I and the Means Test. The debtors might lose their home and I am in more of a panic than they are.”
I said: “First of all, this attorney should not have taken this case if the people waited until the last minute to file bankruptcy. Therefore, the responsibility is really the fault of the debtor for their neglect and the attorney’s for accepting a last minute rush job. So I suggest you do not feel sorry for them. If you have done your job 110%, all you can do is wait on the paycheck stubs.”
As we continued to talk it became evident that Angie would need to change her policy when working for new bankruptcy attorneys. She would not start a bankruptcy petition until she had received (a) The Client Intake Forms and (b) 6 months of paycheck stubs.
Additionally, Angie will begin providing the following list to new attorneys she works for. This list outlines their responsibilities so that both Angie and the attorney can effectively work together in streamlining and improving the quality of the entire bankruptcy process. When this goal is achieved, the attorney will notice a positive difference in his or her law firm workload and Angie will have less headaches and stress.
List of Attorney Responsibilities:
I suggest that before you start working with your attorney for the first time, you provide them with the following list of their responsibilities. Be sure to explain that these guidelines will benefit their law firm and save them time and money.
1. Attorney will ensure that debtor(s) have completed the mandatory Credit Counseling Requirement.
2. Attorney will have client(s) complete Client Intake Forms. When Client Intake Forms are returned to the Attorney by client(s), Attorney must review the Client Intake Forms to ensure all information has been properly completed. By scanning through the Client Intake Forms first, it will allow the attorney to catch large sections of missing information that the Virtual Assistant needs for the petition.
3. Attorney is responsible for gathering the following documents BEFORE the 341 Meeting so they will be prepared in court. If they are prepared in court, the bankruptcy process will go very smooth and save the attorney a lot of time and frustration. The following items are required by the Trustee at the 341 Meeting:
** 6 months of paycheck stubs from debtor(s)
** Copies of titles to all motor vehicles
** Recorded Mortgage and Deed for all real property
** Copies of any lawsuits filed within the past two (2) years.
** Copies of all life insurance policies owned by debtor(s)
** Federal income tax returns for past two (2) years
** Separation agreements or decrees of dissolution or divorce within the past on (1) year
** All documents relating to retirement accounts.
** Security agreements, financing statements and personal property leases.
** Stock certificates, bonds, credit union and passbook savings accounts and statements evidencing investments or savings.
** Evidence of value of real estate (i.e. appraisal dated no later than one (1) year prior to filing bankruptcy.)
** Documents verifying debtor(s) interest in any future property.
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