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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39178
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I have a lawyer who filed a chapter 7 for us and now wants

Customer Question

I have a lawyer who filed a chapter 7 for us and now wants us to ask for the 7 to be dismissed or converted to a 13. He's a nice guy but i have a bad feeling that he has made some mistakes. I need help PLEASE
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 7 years ago.

The attorney had to list your note as an asset. Failure to do so could have subjected you and the attorney to criminal prosecution for bankruptcy fraud.

 

The reason for changing to Chapter 13 is that once the plan is complete, if there is anything left on the note, then you will be able to keep it. If you stay in Chapter 7, you will lose the note entirely.

 

You really only have the choice of trying to dismiss the case or converting to Chapter 13. Frankly, the cour can refuse to dismiss the Chapter 7 and let the bankruptcy trustee take the note.

 

If your attorney knew about the note and didn't tell you about that probability, then you may have a lawsuit against your attorney for malpractice. So, you'll have to decide to either go along with the lawyer's advice, or try to find a malpractice lawyer to take your case on contingency.

 

For a malpractice attorney referral, see: http://www.abanet.org/legalservices/lris/directory/main.cfm?id=MA and www.martindale.com.

 

Hope this helps.

 

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