Posts Tagged ‘bankruptcy lawyer’

« Older Entries
Newer Entries »

Huge problem with getting documentation

Tuesday, November 11th, 2008

I called Wachovia yesterday about the checks I had not yet received… after a run-around it was determined the department I had sent the written request to almost two weeks ago, was not the right department, and no one called me! The checks are not on the way!

I about went ballistic on the poor lady on the phone, I need copies of 400+ checks by the end of the week, to get them to our bankruptcy trustee. Not only that, but they charge $5 per check. They wanted $1200+ dollars for the copies!

I contacted my lawyer, and he stated he would call them if they gave me a problem about the charge, since it is being required by the court it should be no charge.

Well, they say unless there is a subpeona they still charge… I went off! Since I had proof in writing of the request, and they never followed up they stated they will not charge me for the copies, and send them over-night so I have them Thursday.

I’ll still need to make copies for our records, as well as the copies for the trustee, too. In the end, Wachovia even called back to let me know they were being processed and they would let me know when they shipped out.

Tags: , , ,
Posted in Bankruptcy | Comments Off

Still unsure about business chapter 7 bankruptcy

Sunday, November 2nd, 2008

The business has now closed, and I have moved out of the building. The good news is I have three people interested in buying many of the assets of the business. My lawyer had requested information from the trustee whether I should file a seperate business bankruptcy, or liquidate. And if any assets are sold, what happens. Does she need to approve the sale, and/or set the pricing?

It seems this is getting more stressful, and not less stressful as most people say occurs after you file. I’m sure this is due to the business, as if I didn’t have this mess to deal with it would be much easier.

It seems there are more questions than answers.

Tags: , , ,
Posted in Bankruptcy | Comments Off

Filling out bankruptcy paperwork

Sunday, September 14th, 2008

Our bankruptcy lawyer uses software called mycasefile to have us enter all the required information. I kind of like this, as although the attorney is paid to do this… I read horror stories on the web about some lawyers missing important information, or having incorrect numbers, etc. that can really cause problems. This way we can see exactly what is entered and ensure nothing is missed or incorrect.

The lawyer will then review it, and we will go over it together to ensure everything is correct prior to the actual case filing.

If you are a “pro se” filer (i.e. filing on your own, and not with a lawyer) there are places online to get the correct documents and instructions. I’ll post these links at another time and/or edit this post with the info.

Tags: , , , ,
Posted in Bankruptcy | Comments Off

Retaining a bankruptcy attorney

Friday, September 12th, 2008

Well… today was the day. As I mentioned before we were trying to get some financing to avoid having to file bankruptcy. However due to the current credit crunch, no financing came through. It’s time to retain our bankruptcy lawyer.

We chose to go with the last one we spoke with who was refered by my business attorney. The others we spoke with just didn’t give us that warm fuzzy feeling.

We supplied him with 6 months of bank statements, last years tax return, information on our car loan, etc. Our attorney charges a flat rate for a chapter 7, or a chapter 13 bankruptcy. Chapter 13 is about $1000 more than a chapter 7. We are in Florida, and I believe the amount a lawyer can charge is dictated by the laws. Of course if anything out of the ordinary happens during the course of the bankruptcy he charges a hourly rate in addition to the flat rate we already paid.

Based on preliminary information he thinks we will have to be in a chapter 13 plan. I really hope this isn’t the case as we have NO extra income. We already know we will have to surrender the house, as without the business there will be no way to make enough income to make the payment. This sucks! We are pushing for a chapter 7 but will need to do the means test required by the government.

Tags: , , , , ,
Posted in Bankruptcy | Comments Off

Bankruptcy looks inevitable

Monday, September 8th, 2008

Well the last several weeks, store sales have been dismal. I’m not able to pay myself (Which is how our house payent is paid) and based on input from multiple bankruptcy lawyers, I am not paying anything other than necessary bills. Like electric, etc. I am not paying vendors, credit cards, etc.

This is from a two-fold reason… first the income just isn’t there. But, what I found from the internet as well as the attorneys we spoke to, if you pay some bills and not other this can be seen by the court as preferential treatment. The court can actually take that money back to disperse it evenly.

Here’s an example… say I pay one credit card $1000, andother one $500 and skip a third one. The court can see this as preferentail treatment to certain creditors and take the money back from the two I paid. I suspect you don’t see it for credit cards… but say you repay a family member, or pay off a car. This can lead to trouble. The court usually looks back about 6 months, but can request much farther back.

Be sure to check out some of the books I recommended in This Post for details or more bankruptcy info.

Tags: , , , ,
Posted in Bankruptcy | Comments Off

« Older Entries
Newer Entries »