Bankruptcy

Unexpected Side Effects of the Depression in the Practice of Law and in Parking Lots

By Joseph McDaniel, Esq.

They told me that their experience with personal injury clients had changed dramatically during this depression.

Where before the depression, folks would come in to be educated about the range of probable recoveries in their personal injury case by an experienced lawyer, now all they were seeing were folks who had been in a trivial fender-bender who were darned and determined to get a million dollars out of the deal.

I don't have that issue in a consumer Chapter 7, because the personal injury cause of action is one of the assets that the Chapter 7 bankruptcy trustee will routinely ask about at the first meeting of creditors, and will (not may) take away from the debtor to settle and pay creditors.

Unless, of course, it's a totally worthless case, in which case the trustee will abandon the cause of action.

But that happens seldom; these days, even bankruptcy trustees are a little harder charging in terms of what they want, and some will push for a payment whenever an abandonment is requested.

Trustees differ one from another, of course, depending on their age and experience and training and personality, so generalizations don't work perfectly.

There's another unfortunate side-effect to this depression, and that's the number of folks in any parking lot who'll ask for money.

I try to keep five bucks handy to give to them.

I really appreciate it that they ask for it, rather than hitting me on the back of the head with a rock and taking it.

You know?

p.s. I haven't checked yet, but there's no question in my mind that as the depression continues and deepens, there will be a corresponding increase of crime of all sorts. My first clue? Well, this ain't my first rodeo. My second clue? When I parked my car in my usual parking garage and came back to find it missing the back insignia, and those little caps that also have insignia, that sit on top of the wheels. I'm not sure exactly what they're called, but I'm certain that when I take it to Tony's, Dan Guido will tell me the name of all the parts, because he knows that stuff!

And how long it will take to order 'em, and how much it'll cost to put them back on the car.

But Dan's always treated me and my friends and family fairly, so I'll just write him a check to fix up the injured car.

I wish the thief had just asked for the dough instead of prying off the insignia, you know?

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on June 18, 2010 (boomark / email).