What would you want to see in a bankruptcy book?

[BKAttyMI]

Hi folks, as part of the reason for my involvement in this forum, I've been working on several bankruptcy guides/books and I wanted to see what kinds of issues, concerns and questions consumers generally have when considering bankruptcy. I currently offer common questions and answers to my clients, but would like something a bit more detailed for those that want a deeper understanding of the process. My plan is a "Survivor" series, including "Surviving Chapter 7", "Surviving Chapter 13" and some sort of "Surviving Debt and Collections". My Chapter 7 guidebook is almost complete, and I wanted some feedback on the contents I've come up with. Please take a look at the Table of Contents below and let me know if there are any sections you would want to see and any general feedback, I would really appreciate it. Mods, if this is inappropriate, please feel free to take down.

1. Qualifying for a Chapter 7 Bankruptcy and the Means Test
2. Garnishments
3. Collection Suits
4. Repossessions and Seizures of Property
5. Foreclosures
6. Finding and Hiring an Attorney
7. Gathering Documents
8. Types of Debt and how they are Treated in Chapter 7 Bankruptcy
a. Unsecured Debt
b. Secured Debt
c. Priority Unsecured Debt (Taxes, Child support, etc.)
9. Credit Counseling
10. The Automatic Stay
11. Your Section 341 Meeting of Creditors
12. Reaffirmation Agreements
13. Chapter 7 Discharge
14. Planning for Chapter 7 Bankruptcy
a. Affording Bankruptcy
b. Vehicles
c. Houses and Living Situations
15. Recovering your Credit Score

[HHM]

I guess I would ask what is going to make your books different? Most of what you listed is already covered exhaustively in other books. Also, there are already a handful of books with similar titles (do an amazon search for "surviving bankruptcy").

But, at least you are asking the right question...the most difficult thing to do for attorneys is to get in the mindset of their clients. This forum helps because you can see what sort of questions are asked.

Instead of trying to be a comprehensive guide, focus on one aspect i.e. "the do's and don'ts before filing bk"

The problem with the general guide approach, I think, is that consumers aren't really looking for an overview book, most info can be got on the internet about general information, the books that seem to sell are the "how too" books and the "how too" books give the overview. So, consider niche'ing down your idea. (after all, you could right an entire book for each of 5, 6, 14, and 15).

[BKAttyMI]

Excellent points HHM. I'm not too concerned about selling copies of it as it would mostly be for my client's use, although it will be available on Amazon. I'm not doing a "do it yourself book", although I think with the information I'm presenting, a do it yourself would be possible. The books follows my previous handouts for clients in a "common question and answer" format, also gleaned from my time spent on this forum seeing what people's concerns are. I'm also going to draw on my experience working for a Chapter 13 Trustee's office for 3 years prior to going into private practice, so this book will also contain information from the Trustee side and what the Trustee is specifically looking for and what will raise red flags. I'm hoping the chapter on "planning for bankruptcy" will help with the dos and don'ts before filing, but you're right, I should make this more specific.

I have a lot of fun doing informational books, and have previously published several hobby books and run my own hobby site (big dork that I am), and finances fascinate me. Keep the feedback coming!

[Peeps]

It seems like there are always a lot of questions around exemptions (what are they, how are they applied, why are they different from state to state, how to decipher what is really allowed when the wording is general) and that might be helpful info to see in a book.

In Planning for Chapter 7 Bankruptcy, it might be helpful to address cash... like how to spend down cash if necessary. Also how to NOT spend down cash or transfer assets etc. Tax refunds might be an area of interest, since it seems to pop up here a lot.

A nice down-in-the-dirt expose on how trustees & judges approach issues would probably fly off the shelves. Doesn't everyone wonder what the trustee will do in their case? Or what questions will be asked over & above the standard questions? Or what things in their filing might flag closer attention by a trustee? There also seems to be a fair amount of confusion around what happens when a US Trustee gets involved and what might actually lead to that happening.

Anyway, just my 2-cents. Best of luck with your project.

[HHM]

Fair enough, if you are looking to do general e-books as overviews primarily to become a "published" author, that's cool.

On the "how to" thing, you don't have to do a how to file BK, per se, but maybe re-frame your idea as Tips for Success...if the book is presented in a way to provide a reader with "actions" and not just information, it will be more beneficial.

The 341 meeting topic is the easiest.

(1) Brief over view
What is it, What is its role, etc.

(2) Then go into, questions asked, what to wear, what to bring, etc.

If you follow that basic structure, the book will be more useful and may actually sell

[DesdemonaB]

Just my 2 cents

I would reorder this way:

1. Qualifying
2. Planning (14)
3. Gathering Doc (7)
4. Find & Hire (6)
5. Credit Counseling (9)
6. Types of Debt (8)
7. Collection (3)
8. ADD – Judgment
9. Garnishments (2)
10. Repo & Seizures (4)
11. Foreclosures (5)
12. ADD - Assets
13. ADD - Exemptions
14. ADD – Filing
15. PACER
16. Auto Stay (10)
17. 341 (11)
18. Reaffirmation (12)
19. Discharge (13)
20. Recovery (15)

Under Planning would there be timelines on when to stop use/paying cc/auto/home?

Under Types of Debt would there be a section on preferential payments and loans/payments to relatives?

I would also add a glossary of common BK terms and codes, and a FAQ section.

Good luck.

[steveok]

I think adding state and federal exemptions table would be great

[IHateToBeEmo]

I think a chapter on well-known people who have filed bankrupcy would be useful.

[WhatHappened]

I would add some humor to the book and add a section on how not to go insane during the process.

[debee]

How about a section on "Things Your Lawyer Can't Tell You". Hmmm. Since you're a lawyer maybe you can't tell either. Ok, so you call it: "Things I Would Tell You if I Wasn't a Lawyer".

[ValleYum]

How about a section on "Things Your Lawyer Can't Tell You". Hmmm. Since you're a lawyer maybe you can't tell either. Ok, so you call it: "Things I Would Tell You if I Wasn't a Lawyer".

I like that idea, debee!!


My input for part of the 'Everything You Want to Know About Bankruptcy but Were Afraid to Ask' book:

What the Means Test Really Means

Schedule J - How things you forget can hurt you! (expense items that petitioners forget to list or underestimate)

Exemptions 101 - What is an exemption and what does that mean for me? (the petitioner)

Your Mileage May Vary a.k.a. Remember things are different with different trustees and districts

[daylate]

I like debee's and ValleYum's suggestions. The thing that is the most frustrating to me is that there is so many differences between states/districts/trustees.

I would think that a chapter on "Common Pitfalls" would be a great place to highlight some of the more common things such as:

SSI not on means but on Schedule J

Allowable expenses on J -what will most likely fly, what might, what won't

The whole totality of circumstances issue

Selling things prior to bk

The fact that if you haven't lived in your current state for 2 years you still may be able (have to) use federal exemptions because your old state limits its exemptions to residents or people who are domiciled there

After you file but before 341- what can you do or not do

I'm sure there are others but this is all by caffeine deprived brain can think of now

[HHM]

It's a trade off I think, some of those items mentioned are hyper technical. Not that you shouldn't educate your self, but at the same time, if you hire the "right" lawyer, those are items you don't need to really know. For example, I don't need to know the procedure behind filing a cavity in my tooth, what the filler is made of, the size drill, the rotating speed of the drill, how deep, etc, I have a dentist whom I trust that does it if I need it.

But when you start detailing issues about means test and schedule I & J, you runt he risk of it becoming a how too book and may not be relevant to a more general audience.

There really isn't that much your lawyer can't tell you. About the only meaningful restriction (technically) is that he lawyer cannot tell you to incur debt prior to filing BK. Aside from that, the lawyer can help you in many ways and can help you plan. The issue most people have is they can't really afford that level of advice and service, and the lawyer is not going to assume the risk (of the advice not working, or the debtor doing something stupid) for a low fee. The issues are never black and white. So, the cheap lawyers keep you in the white (or black) by not giving advice and let the chips fall where they may. The good attorneys, and more expensive, will go into the grey area within the debtors comfort zone to try and maximize the benefit of the BK.

[gmk]

What's missing in the BK process is a consumer/small business understanding of the BK basics long before one gets serious about the possibilities of BK. I really don't know how that could be done but like many in these forums, "had I known," there are many things I would and wouldn't have done prior to even talking with an attorney or even finding BKForum.

I wish I would have known about the protection retirement plans provide in all their various manifestations. I wish I knew about gifts to and from family, the difference in secured, priority and non-priority debt, etc. I can look back many years and cite a couple of times where I wouldn't have taken money out of IRAs and also taken out loans on 401ks and at different moments in my financial history where it may have been perhaps more advantageous to file Ch13. If I had been more aware, even the 6 mos leading up to my unemployment (I had a clue this may happen) I could have got my house in better order, or as mentioned above, planned better.

What I'm saying is that although a good book on the subject is certainly useful, debtors are already in trouble when they get to the point that they start reading up on the subject. Most ads I've seen in the media by BK lawyers are either intimidating or irrelevant.

I don't know how one could begin the process of proselytizing the basics but to me some instrument that could accomplish that would be real benefit for debtors even before they start heading down the slippery slope.

[HHM]

I agree...you really cannot "create" that market. What your talking about, gmk, is general financial literacy. But, as you pointed out, the problem lies in that people don't realize they are in trouble until its too late and make the mistakes (i.e. liquidating retirement etc) before really seeking out help, whether it be from a book or advisor.

What your asking for is a "how to plan for financial crisis" book, but no one will buy it until it is too late