• Instructor: Attorney Bob Schaller
• Lectures: 8

Understanding the Bankruptcy Process

Studying these courses should help any attorney feel more competent to file his/her first Chapter 7 bankruptcy case. Attorneys who embrace these courses will be able to better understand the Chapter 7 legal requirements, anticipate bankruptcy issues, and carefully prepare the required petition, schedules, and statements. Attorneys will also be able to help their financial troubled clients by:

• Offering a timeline to manage client expectations.
• Explaining the bankruptcy process to the client.
• Advising whether a client is eligible for Chapter 7 relief.
• Providing a client with a realistic outcome forecast.
• Advising a client whether Chapter 7 relief is the best chapter to seek relief.
• Identifying which assets are “exempt” from liquidation and which assets may be sold by the Chapter 7 standing trustee.
• Specifying which debts can be discharged and which debts survive the bankruptcy.
• Advising a client whether the client’s home can be retained after filing bankruptcy.
• Advising a client whether the client’s vehicle or other personal property can be retained after filing bankruptcy.