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Panicking because our bankruptcy attorney has screwed up,

Customer Question
Panicking because our bankruptcy...

Panicking because our bankruptcy attorney has screwed up

Lawyer's Assistant: What state are you in? And has anything been officially filed?

Texas. We met with him and told him that we were interested in exploring a Chapter 7 only. He was pushing for a Chapter 13 because our income was too high. I told him if that was the case, we'd just go through a credit repayment plan with a credit counselor. Lo and behold, and all of a sudden we passed the Means Test. THEN, we discovered that the Spendthrift Claus in my wife's mineral rights was not worded correctly as it is in the family trust, so now, not only are we facing having to convert to a Chapter 13, but the trustee wants us to obtain a figure for the sale of the wifes mineral rights.

Lawyer's Assistant: Has anything been filed in civil court? If so, what?

Chapter &. We had our Crditor's Meeting a couple of weeks back & 7

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Now. Just trying to determine our best next action

Submitted: 6 months ago.Category: Bankruptcy Law
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Answered in 13 minutes by:
8/3/2017
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 6 months ago
Law Educator, Esq.
Category: Bankruptcy Law
Satisfied Customers: 121,801
Experience: Attorney At Law handling education matters.
Verified
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Actually, whoever wrote the spendthrift clause screwed up. However, now you have a tough choice to make if this is going to cause your wife to lose her mineral rights. Of course, she can be forced to sell the rights, that is stating the obvious. However, you can seek to remove her from the bankruptcy and do not file a joint bankruptcy, which is not likely going to help you much. Otherwise, your other option is you would have to withdraw from the bankruptcy and dismiss the case and in this way you can save the mineral rights and then go to simply credit counselor and negotiate repayments with creditors.
Those are really your only options.
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Law Educator, Esq.
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Category: Bankruptcy Law
Satisfied Customers: 121,801
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Experience: Attorney At Law handling education matters.

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