Well, October 17 has come and gone and I have now filed four (4) cases under the new law. Business has been extremely slow – I suspect that everyone who had been considering filing did file prior to October 17. My new cases have mainly been homeowners who want to file Chapter 13 to stop foreclosures.
My observations so far:
- client interviews now take two to three hours, as opposed to 60 to 90 minutes before. There is a lot more paper we have to see and, frankly, the client’s options are limited.
- clients have been less than enthusiastic about the pre-filing credit counseling. The ones who have taken the counseling generally like it, but clients facing emergencies have been less than cooperative.
- from my end, the requirement that we gather information is a good thing. I am finding all kinds of judgments and lawsuits that my clients did not know about and never would have known but for my investigation.
- this new bankruptcy law is not going to change human nature – people who are financially strapped are going to continue to be desperate and disorganized.
- the new Chapter 13 plan in the Northern District of Georgia is a major pain. When the numbers pick up again, I will be very selective and I am afraid that debtors with challenging cases will have a hard time finding experienced lawyers.