Petition Mastery: Executing Flawless Chapter 7 and Chapter 13 Filings

Description

Petition Mastery: Executing Flawless Chapter 7 and Chapter 13 Filings

Chapter 13 is one of the most complex—and profitable—areas of bankruptcy law. Are you ready to stop second-guessing and file every petition with absolute confidence? This intensive course provides the step-by-step guidance to master the precise preparation of every form and schedule required for a successful and confirmable bankruptcy filing in both Chapter 7 and Chapter 13.

Mastering Every Schedule and Form:

• Initiate the Voluntary Petition with Precision: Learn the critical first steps and timing to secure the automatic stay and officially commence the case correctly.
• Accurately Inventory Assets: Schedules A & B: Master the detailed reporting of all personal property and real estate to ensure full disclosure and court compliance.
• Maximize Client Protections: Schedule C (Exemptions): Strategically apply federal and state exemption laws to shield your client’s assets from creditors and the Trustee.
• Delineate Secured Creditors: Schedule D: Confidently list and classify all secured debt to lay the groundwork for collateral treatment in the repayment plan.
• Identify and Prioritize Debts: Schedule E & F: Accurately categorize all priority debts (taxes, support) and systematically list all unsecured claims to ensure their proper discharge.
• Manage Contracts and Leases: Schedule G: Determine whether to assume or reject contracts and unexpired leases, protecting your client’s ongoing interests.
• Calculate Accurate Client Income & Expenses: Schedules I & J: Master the rules for reporting income and expenditures to establish the foundation for the Means Test and determine plan feasibility.

Advanced Compliance and Strategy:

• Complete the Comprehensive Statement of Financial Affairs (Form 107): Navigate the complex questions on the client’s financial history to ensure full transparency and avoid Trustee scrutiny.
• Determine Eligibility with the Means Test (Form 122C): Confidently calculate current monthly income to determine Chapter 7 eligibility or plan payment obligations in Chapter 13.
• Configure the Chapter 13 Plan for Confirmation: Master the structural requirements for a plan that is feasible, compliant, and ready for court approval without unnecessary delays.
• Execute Vehicle Cramdowns Within the Plan: Apply the relevant rules to reduce vehicle loan balances to the collateral’s value, significantly lowering client payments and increasing plan viability.
• Establish Clear Attorney Compensation: Learn the guidelines for disclosing and obtaining court approval for your fees, ensuring predictable firm revenue and ethical compliance.

Stop leaving plan confirmation to chance. File efficiently, accurately, and strategically every time.