In a perfect world, a new bankruptcy client will tell his lawyer the truth about all of his assets, debts, income, pre-petition transfers and prior bankruptcies already filed. That, of course, almost never happens. Therefore, here are 10 steps the bankruptcy practitioner can take to protect himself and the client from the potential pitfalls and perils of filing a bankruptcy petition.
Step 1: The client interview form: The perfect bankruptcy petition begins with the attorney’s extensive pre-bankruptcy consultation with the prospective client. This can only occur through the use of a comprehensive list of questions targeted to ferret out potential problems. Notes taken at the initial consultation often come in handy when preparing and reviewing the bankruptcy petition.
