What Are You Waiting For? The Bankruptcy Filing Timeline

These cases are of specific interest to creditors but debtor attorneys and trustees also should be aware. Chapter 7 debtor bears the burden of proof of demonstrating eligibility in order to convert to Chapter 13; such proof requires them to demonstrate that they have regular income adequate to fund a Chapter 13 plan. AND . . . Chapter 13 plan fails to satisfy the eligibility requirements if it depends upon gifts or loans to be feasible.

Apparently, seventh time’s the harm. In this case, aggressive lawyering’ crosses the line.

Catoria “Torri” Parker Martin was raised in Jackson, Mississippi, graduating from Jim Hill High School. She has always loved Jackson and after living away for many years, was happy to return home.

“Bankruptcy attorneys often operate from a mindset of scarcity. . . . They undercharge, give away their time, and scrimp on resources, running their practices like they’re always one bad month away from shutting down.”

2020 portends a flood of bankruptcy filings. In the consumer bankruptcies, trustees and debtors' counsel often are uncomfortable with the rules in Article 9 of the Uniform Commercial Code (UCC). In this space, we have looked at topics involving the interplay of Article 9 and the Bankruptcy Code, and in this new series, we began reviewing Article 9's important rules related to consumer transactions.