Part 2 of 5: A Bankruptcy Lawyer’s Top 5 New Year’s Resolutions

Every one has them. Some say they are a bad idea and that making them simply deters actual action. But we all make them nonetheless. I can only talk about my own, but maybe you will share yours too.


Not just the headline or first two paragraphs. Read the entire article. Especially financial, political, and business news.


The state of the art means: what happened yesterday – literally. The form of DIP order that was entered in Delaware last week. The latest ruling on retention of financial advisors. The state of most-watched bankruptcy appeals. To paraphrase the famous commercial, if you don’t get it, then you don’t get it.



Its so easy to lose it in this line of work. Don’t. If you have to keep pencils in your desk to break every time you feel like lashing out at someone, do.


The old ways (wine and dine) don’t work as much anymore. The new ways (sending business) are harder and harder. Reciprocity can mean so much more, but it takes getting to know people more and finding new ways to “trade.”


When you keep chasing new business but are too busy to keep up with what you have, you only lose credibility and frankly, annoy people.

What are your top five resolutions – for yourself or others?

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2 Responses to Part 2 of 5: A Bankruptcy Lawyer’s Top 5 New Year’s Resolutions

  1. Manoj says:

    I think this blog is relevant in today soectiy. I am preparing to file a bankruptcy myself. My question is, which one should I use chp. 13 or 7. I have some business expenses along with my personal

    • Ana says:

      There are a series of laws dsngieed to constrain the behavior of collection agencies. Read up on the ones in your state, and the federal rules, and hold the collectors accountable for following those rules. If they can’t call after a certain time, or they can’t contact you at work after you inform them which of your numbers is a work number, then be sure to object and threaten a complaint against them whenever they step over those lines. But also, its sometimes useful to provide enough information so that collectors can assess the usefulness of continuing to spend energy calling you. I think there is a telling phrase in your question. You seem to want them to stop while you are “working out a payment plan”. How about they stop when the plan has been worked out, and you are in compliance with the plan? What is preventing the plan from being agreed and implemented? Is the ball ever in your court for any length of time? They are going to recognize phrasing like “working out a plan” to be stalling. You can get a week or two for working out a plan, after that, you are dragging your feet in their minds.You need to advance to having the plan worked out, and tell them you are in compliance with the plan. then it will no longer be worth the effort for them to call you.So put your energy into getting the plan approved. And then stick to it.You are correct, that bankruptcy is not smart for one credit card behind 6 months of your pay. Just pay off the card. Get another job, one you can study at, like working the window of a sleepy parking garage, or the check out desk at a library that is slow for most of the time you have to work there.There are tons of ways to make $20 at a pop, helping someone with something. Just let everyone know you are looking to make a few extra bucks and then stash half of what you make in an account to pay down the card and add that to your monthly payment.

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