Because I like to stay on top of things and I want to always improve my own teaching skills, I have listened to and attended many classes, webinars and teleconferences in regard to furthering my Chapter 13 education. However, one thing that all these instructors do is to complicate the process of a Chapter 13. Perhaps they do not realize they are doing this, but I wonder if people leave the seminar or teleconference with more knowledge or more confusion when it is all over.
Other than the fact that I dearly love preparing Chapter 13 petitions, I strive to present my training in an easy to understand format. Below are a few tips to help clear up some of the confusion you may have experienced when it comes to preparing Chapter 13 bankruptcy petitions:
Tip 1: Begin Every Chapter 13 Like it was a Chapter 7
The majority of people who are learning how to prepare Chapter 13s normally already know how to prepare Chapter 7s. Therefore, it is best to begin with what you already know and build upon that knowledge. If you begin working on a Chapter 13 and in the back of your mind you are continually asking questions things like: How is this debt classified?; Is part of this debt unsecured?; How much of this debt is the person going to have to pay back?; or Will this debt be included inside or outside the Plan? you will easily get confused and off track.
Instead, input all petitions as a Chapter 7. Conduct the client intake interview as you normally do, gather up all the market values, do internet searches for judgment liens and criminal search, enter in all the debts, income, expenses and complete the Statement of Affairs in detail. When all of this has been completed and your Chapter 7 version of the petition is totally complete, you can move on to turning it into a Chapter 13.
Tip 2: Changes in the Petition from a Chapter 7 to a Chapter 13
In your bankruptcy software program, you should be able to go into the Voluntary Petition and change the petition you are working on from a Chapter 7 to a Chapter 13. When you do this, the following forms and other information will need to be changed:
** On the Voluntary Petition, the Statistical Information box to indicate there will be funds left over to fund the Chapter 13 Plan needs to be checked.
** Item 9 of the Statement of Affairs needs to be changed showing a filing fee of $274 instead of $299 to the bankruptcy court.
** The Attorney Compensation Statement needs to be changed to show the attorney fee charged for the Chapter 13. Also, the filing fee needs to be changed from $299 to $274.
** If the Attorney is going to be adding fees into the Chapter 13 Plan, you can add this amount into the Plan now. This way, you will not forget to include it.
** You need to find out the trustee fee in your state so the Chapter 13 Plan can be funded correctly. Visit:
http://www.usdoj.gov/ust/eo/bapcpa/20081001/bci_data/ch13_exp_mult.htm
Tip 3: The Statement of Intentions Form
When you change a Chapter 7 petition to a Chapter 13 petition, the Statement of Intentions becomes the Chapter 13 Plan. This is because the Statement of Intentions in a Chapter 7 tells the creditors if the debtor(s) are keeping or surrendering their secure property. However, in a Chapter 13, the debtor(s) are proposing a Plan of how they will pay their debts. They can still surrender assets in a Chapter 13; but if they do, they will not be paid in the Chapter 13 Plan.
Now We Have Come to the Hard Part
This article was not meant to cover the level of training needed to teach you how to balance out Schedule I and J so a Plan payment can be proposed. It was not meant to cover the complexities of classifying different debts. And it was not meant to cover a variety of scenarios that enable you to build skills in developing fair and balanced Chapter 13 Plans. For that I would need a book or a training session where I can work with you one-on-one. Therefore, I have developed a wide range of training options to help you achieve advanced knowledge in Chapter 13s. See below.
Further Your Training at the Upcoming Workshop (Seminar)
The most inexpensive way to accomplish advancing your Chapter 13 skills is to attend the Chapter 13 Plan Training Workshops planned for May 16 and August 14. For only $189.00 you will spend the day with attorneys as well as virtual bankruptcy assistants learning the skills you need to prepare well-detailed, as well as fair and balanced Chapter 13 bankruptcy petitions. I will also work with you one-on-one and you can ask as many questions as you want during the workshop. You will also learn from the questions of others.
I guarantee that when you leave this workshop, you will have more knowledge than 75% or more of the law firm employees (and even many attorneys) in the preparation of Chapter 13 petitions. That is because most law firms and attorneys have never been properly trained in bankruptcy petition preparation skills. I was blessed to be trained by several Chapter 13 bankruptcy attorney specialists and two trustees that I got to know as friends during my career. These great minds were the basis for my knowledge and education and I thank all the attorneys and trustees who taught me these skills. Now, I can pass this insider knowledge on to you, as well as all of the other knowledge I have learned from the variety of materials I am exposed to on a daily basis.
Additional Training to Further Your Chapter 13 Knowledge
May 16, 2009 Workshop in Denver, Colorado
http://www.713training.com/seminar/denver.html
August 14, 2009 Workshop in Los Angeles, California
http://www.713training.com/seminar/los_angeles.html
Personalized Training at the 713Training.Com Training Center
http://www.713training.com/shop/cart.php?m=product_detail&p=98
1 on 1 Personalized Telephone Training (2 hours)
http://www.713training.com/shop/cart.php?m=product_detail&p=84
Bankruptcy Petition Review Training by Telephone (1 hour)
http://www.713training.com/shop/cart.php?m=product_detail&p=86
Summary
Do not make Chapter 13s more difficult than what they are. Yes, Chapter 13 petitions require more skills and knowledge compared to a Chapter 7, and yes, Chapter 13 Plans can be confusing and a little more time consuming. However, I have developed a wide range of training methods to simplify the process into understandable chunks. I have trained attorneys, paralegals and virtual assistants across the United States in these skills and I know they work. Now is your unique chance to learn these skills because with this knowledge, you can write your own ticket to job security in these troubled economic times and get a great satisfaction of helping others in the process.
I wish you the best of success and I hope to meet you soon. I am anxious to share my knowledge with you so that you can benefit attorneys, bankruptcy courts, trustees and the debtors who are filing bankruptcy.
Victoria Ring, CEO
713Training.Com LLC
http://www.713training.com
