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Fresh Start Funding and bifurcation [1 Attachment]
Hale:Thanks for this great summary of how the UST and others view the business model.As for the "sunny and glowing" ABI article, I point out to others that it's penned by the managing director of the company we're talking about.But even reading this article, I don't understand how I could interview a debtor, prepare and edit his petition, guide him toward credit counseling, and advise him on what the bankruptcy is going to mean and how it will play out for zero money down - unless I determine that he's a pro bono client and I just won't earn a fee from that work. Usually, that work is the majority of the work done in the case.- John
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To: cdcbaa@yahoogroups.com
Sent: Monday, July 30, 2018 12:56 PM
Subject: Re: [cdcbaa] Fresh Start Funding and bifurcation [1 Attachment]
ow anything about the company. I question a business model that leaves debtors with postdischarge debt to their own attorney (or assignee) for services which may or may not have truly been provided postpetition. In other words, "let me help you get a fresh start, but you'll owe me and can never escape my debt" is maybe not the most consumer-friendly marketing strategy, though it sure may help increase the number of clients. It creates a conflict where you're debtor's counsel and potential creditor.
The concept isn't new: here's a 1994 newspaper article that compares its practitioners to fast-food restaurants with low quality.https://www.phoenix
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