Bankruptcy

Arizona Bankruptcy Attorney says get a "Bankruptcy Insurance Policy"

By Joseph McDaniel, Esq.

Well, if you fail to list a particular creditor who believes you owe it money in your bankruptcy, and the creditor lacks actual knowledge of the bankruptcy filing in time to file a complaint or fight about your discharge, you may be sued after you receive your bankruptcy discharge by that omitted creditor.

And if you think groceries are expensive these days, try hiring a litigator to defend that lawsuit!

It'll make you grateful that your bankruptcy lawyer was so reasonable by comparison!

So get a bankruptcy insurance policy; when you're filling out the online forms for me so that you can file your bankruptcy, get three credit reports to supplement your own memory and your records.

Have I ever talked to a client of mine about this issue?

Well, you can hear me get a little crazy around the edges in this video about listing all your creditors.

It's a topic close to my heart.

Or the place where my heart would be if I weren't a lawyer, you know?

p.s. Have I recently told you to list all your debts and all your assets? Just checking. Well, I'm telling you again!

p.p.s. Do I seem a little obsessive on the twin topics of listing all your creditors and all your debt? Well, I am. Live with it. I want you to get the maximum benefit out of your bankruptcy that the law permits.

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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 August 23, 2010 (boomark / email).