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Bar News - January 6, 2006


Plunging Into Filing Under New Bankruptcy Law


The following was sent to the Bar News by NH Bar member Michael R. Kainen, an attorney who practices with his wife Michelle Kainen in White River Junction, VT. 

 

On December 16, 2005, the U.S. Bankruptcy Court confirmed the first Chapter 13 reorganization case filed under the new law. Sweeping changes to the bankruptcy became effective on October 17, 2005. Our clients’ case was filed October 18, 2005.

 

We practice in Vermont and New Hampshire. My wife, Michelle Kainen, and I had been in the office until 10:00 p.m. Sunday filing cases under the old law. We filed over 100 in Vermont and New Hampshire in the final weeks.

 

Our clients called on the morning of the 18th. The IRS had just levied a $7,000 bank account. 

I had planned to spend the period after the rush learning the new law. Michelle had been to conferences in Orlando and Atlanta learning the new law. I asked [her] if we could file an emergency case. She had the clients come in. We met with them. Michelle set up [credit counseling over the] internet, put the petition and means test together. Five hours after they came through the door we were able to electronically file for them.

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