Paralegals & Legal Secretaries

Statsky's Corner: Paralegal Duties in Bankruptcy

By Lynne DeVenny

Paralegals have major roles in many areas of the law. For example, here is an overview of tasks many paralegals perform in bankruptcy law.

I. Interviewing/Data Collection
A. Help client fill out an extensive questionnaire on assets and liabilities. May visit client?s place of business to determine the kinds of records kept there.
B. Help client assemble documents:
1. Loan agreements
2. Deeds of trust
3. Security agreements
4. Creditor lists
5. Payables lists
6. Employment contracts
7. Financial statements
8. Leases

II. Investigation
A. Confirm amounts of indebtedness.
B. Identify secured and unsecured claims of creditors.
C. Check UCC (Uniform Commercial Code) filings at the
secretary of state?s office and at the county clerk?s office.
D. Check real property records in the clerk?s office in the
county where the property is located.
E. Verify taxes owed; identify tax liens.
F. Identify exempt property.

III. Asset Control
A. Open bankruptcy file.
B. Prepare inventories of assets and liabilities.
C. Arrange for valuation of assets.

IV. Creditor Contact
A. Answer inquiries of creditors on the status of the case.
B. Request documentation from creditors on claims.

V. Drafting
A. Original bankruptcy petition.
B. Schedule of liabilities.
C. Statement of affairs.
D. Status reports.
E. Final account.

VI. Coordination
A. Serve as liaison with trustee in bankruptcy.
B. Coordinate meeting of creditors.
C. Prepare calendar of filing and other deadlines.

Additional Online Checklists of Paralegal Duties:

? www.lawcost.com/paras.htm
? www.lectlaw.com/files/pap01.htm
? www.paralegals.org/displaycommon.cfm?an=1&subarticlenbr=114
? www.cobar.org/index.cfm/ID/106/subID/23108/CLAS
? www.CAPAralegal.org/duties.html
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Bill was a featured guest on a recent episode of The Paralegal Voice, a monthly podcast for paralegals hosted by Legal Talk Network. You can check out "Spotlight on William P. Statsky: A True Expert on Paralegals" by clicking here, and you can purchase The California Paralegal by clicking on the image above, or by clicking here. You can also view additional paralegal resources by Bill at http://www.statsky.blogspot.com/.

Full post as published by Practical Paralegalism on September 21, 2010 (boomark / email).