Meetings with 2 new attys. Here's how it went.

[southernbelle]

I had meetings with 2 different BK attys today and this is how it went.

Meeting #1 (with the atty. who is also a BK Ch. 7 Trustee)Meeting #2 (with the atty. that only specializes in complicated business BK cases)

[uofaguy]

Hi Southernbelle,

That is great news about your discovery of atty #2 today. Must be a huge relief!

We are in a similar situation (majority business debt) but have been told we will not qualify for a Ch. 7 because we have too much disposable income. Did this attorney you met with say that you will still have to complete Schedules I & J (despite not having to complete the means test)? That is a question a few of us in your situation have. Also, if you do have to complete Schedules I & J, are you showing extra disposable income after all your expenses are calculated?

Thanks - Jon

[inhocknow]

I am glad you found an attorney that your happy with. Good luck.

[southernbelle]

Hi Southernbelle,

That is great news about your discovery of atty #2 today. Must be a huge relief!

We are in a similar situation (majority business debt) but have been told we will not qualify for a Ch. 7 because we have too much disposable income. Did this attorney you met with say that you will still have to complete Schedules I & J (despite not having to complete the means test)? That is a question a few of us in your situation have. Also, if you do have to complete Schedules I & J, are you showing extra disposable income after all your expenses are calculated?

Thanks - Jon

When I submit the paperwork to him, schedules I and J will be completed by his asst. as part of my paperwork to file for CH. 7. I am exempt from the Means Test only. Disposable income isn't a factor in determining my eligibility for a Ch. 7 because I am more than 50% non-consumer debt.

I am about $20k above the Median Income for my state so yes, I do have disposable income after all expenses are calculated. I don't have kids and my car is paid off so there is money left over at the end of the month.

I also asked this lawyer how many of his Ch. 7 cases (similar to mine) were kicked back from the US Atty, converted or dismissed. He said less than 5% and a couple of those were voluntary conversions where the client wanted to keep an asset, so I trust that he knows what he is doing. If he would have said we can try 7, but 13 would be most likely I would not feel as confident, but this guy's primary practice is for cases like mine that is very non-traditional or ordinary.

The other thing that helps me is the fact that their is an exemption for the Initial Debt Counseling Session which helps eliviate some of the red tape. This is probably because of the number of BK cases being filed as a result of Hurricane Katrina in our state.

[lrprn]

Great news, SB! Having the right lawyer is so important when you don't have a simple, straightforward bankruptcy case. Sounds like you found yours today - good work!

[uofaguy]

Hi Southernbelle,

I tried to PM you but it appears your profile does not receive private messages. Will you PM me the link to your attorney's website?

Thanks,
Jon

[southernbelle]

I corrected the PM problem and sent you the lawyer information. Hope it helps. Send me a PM to let me know how what happens.

[uofaguy]

Hi Southernbelle - I recieved the info. Thank you!
Looks like I am still unable to PM you. I think we will be filing next week. I'll keep everyone posted on how our business BK filing goes. Thanks!