Build Your Bankruptcy Business

Welcome to the First installment of my new free weekly short newsletter to give you tips, tools and techniques on how to build your bankruptcy practice.

October 17, 2005

Do you remember the craziness when the the “new” bankruptcy law went into effect and the thousands of people who filed bankruptcy under the old law?

I still remember Judge Goldberg and Judge Naugle working in the Clerk’s office to help receive the final petitions as 4:00 pm approached on Friday, October 15, 2005 and the Riverside Bankruptcy Court would close for those wanting to file.

The law changed on Monday, October 17, 2005 and the Bankruptcy Court was like a ghost town. In the week before the law changed, over 3000 peitions were filed.

In the week after the change, there were only 6 petitions filed!

Practice Pointer:

The eight years between between filings is from the date of the filing of the petition to the date of the filing of the next petition–be sure to add a few days to account for leap years.

11 U.S.C. Sec. 727

“The court shall grant a discharge, unless

11 U.S.C. 727(a)(8): the debtor has been granted a discharge under this section, under section 1141 of this title, or under section 14, 371, or 476 of the Bankruptcy Act, in a case commenced within 8 years before the date of the filing of the petition;”

Contact those old clients now to see if you can help them in the future. Those people that filed in 2005, were not eligible to file in 2008 during the great recession and may be counting the days! mg

Send me an email with your comments or ideas for future newsletters.

Mike Gouveia