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The Expensive Decision To Not Hire A Bankruptcy Lawyer.

By Scott Riddle on June 30, 2015
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There are a few Bankruptcy forums or Q&A sites on the internet that allow people to post general questions about Bankruptcy.  Almost on a daily basis people post questions that indicate they are, or intend to, go without a lawyer and do the case themselves.  Rarely does this work out well as statistics show that about 5% of Chapter 13 cases even get to confirmed plans without a lawyer and not many more Chapter 7 cases are discharged.  That is only half the equation, and it leaves out what is lost by not having a lawyer.  A question from today is yet another example of the expensive decision to not have a lawyer. The poster filed a Chapter 7 without a lawyer only to find out that he had significant equity in a vehicle, over and above state law exemptions, and the Trustee intended on selling the car for the benefit of creditors.  This person is probably going to lose his vehicle, or will have to come up with money to pay off the Trustee to make up for the $8,000+ in unexempt equity.  Sure, he will get back the $3,000 in state law exemptions if the car sells but he won’t be able to get much of a car with that.  Good Bankruptcy lawyers would have immediately identified this issue in pre-filing consultations and would have dealt with it and the cost for a lawyer for the entire case would have been far less than this person will lose.  He may very well be counted as a “success” if he makes it to discharge, but the decision to save money by not hiring a lawyer was a very expensive one.  Do not make this mistake, as even free consultations can show you what is at risk.

 

Photo of Scott Riddle Scott Riddle

Scott Riddle has over thirty years’ experience in Bankruptcy and business and real estate litigation and has represented individuals and businesses throughout Georgia and several other states. Scott graduated from The University of North Carolina at Chapel Hill with a BSBA in 1987…

Scott Riddle has over thirty years’ experience in Bankruptcy and business and real estate litigation and has represented individuals and businesses throughout Georgia and several other states. Scott graduated from The University of North Carolina at Chapel Hill with a BSBA in 1987 and received his JD, with honors, in 1991 from the UNC School of Law. After graduation from law school, Scott served as a judicial law clerk for Judge W. Homer Drake, Jr., United States Bankruptcy Judge for the Northern District of Georgia. He then spent several years in the Bankruptcy and litigation sections of a large international law firm based in Atlanta prior to starting his own firm.

Scott is admitted to practice before the Supreme Court of Georgia, Georgia Court of Appeals, Eleventh Circuit Court of Appeals, and U.S. District and Bankruptcy Courts for the Northern, Middle and Southern Districts of Georgia. He has also been admitted to practice pro hac vice in the courts of several other states.

Scott has spoken at several continuing education seminars, and in the community, has been a member of the Kiwanis Club, Buckhead Business Association, Rotary Club and North Point Community Church. He has been cited in several publications, including the Wall Street Journal Online, Atlanta Journal-Constitution, Atlanta Business Chronicle, Fulton County Daily Report, and CNN.com. Scott is a member of the State Bar of Georgia (Bankruptcy and Litigation Sections), served several terms on the Board of Directors of the Bankruptcy Section of the Atlanta Bar Association, and is a member of the Georgia Chapter of the Turnaround Management Association and the American Bankruptcy Institute.

Away from the office, Scott is very active in his community. In addition to volunteering with local charities, Scott has participated and led mission and relief trips to orphanages in Russia and Romania, conducted English camps in Romania and Poland, participated in earthquake relief projects in Haiti, and participated in, and helped organize, an earthquake relief trip to Chile. He also supports Lighthouse Family Retreats, and participates in weekend retreats for children suffering from cancer and their families.

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  • Posted in:
    Bankruptcy
  • Blog:
    Georgia Bankruptcy Law Network
  • Organization:
    The Law Office of Scott B. Riddle
  • Article: View Original Source

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