Poll on Credit Reports
Posted: Fri Sep 07, 2012 10:05 am
Good points Gerald, though I still respectfully disagree based on my prior post. One thing is for sure, the 9/15 program is shaping up to be a "must" for all of us, vetrans and newbies alike, I think.
Thank you Professor Hayes, for getting the intellectual juices flowing in advance of this program. I don't recall this much well reasoned debate on a subject BEFORE a program, in our history. We may need to make program related pre-polling on upcoming subjects mandatory:)!
Jeff Smith
>
> Listmates,
>
>
>
> I think a lot of this discussion is missing several important points:
>
>
>
> 1) In my experience, clients in BK often have their head in the
> sand, are completely overwhelmed by the ferocity of some creditors, or
> are incredibly ignorant about their responsibilities.
>
> 2) The requirements of 526(c) impose a due diligence requirement on
> attorneys. Having a current credit report is evidence one has done
> due diligence. Saying, "the client said it was all the debt they had"
> is no excuse when they omit the creditor they defrauded. Sometimes I
> will check the LA court website for $4.75 to see if there are lawsuits
> the client didn't tell me about, although lawsuits are usually what
> precipitates the BK filing.
>
> 3) The BestCase (CIN Legal) reports also alert me to judgment
> liens, tax liens, prior addresses, employers and adjustable loans, all
> things I might not get otherwise.
>
> 4) They give me arguably correct addresses for the creditors, which
> is much more efficient than studying credit card statements for the
> "correspondence address," with no assurance that this is the address
> registered with the National Noticing Center.
>
> 5) After 27 years in law, I no longer believe that clients will
> always tell me everything unless they believe I'll find out anyway. I
> do not want to have to make that evaluation in every case; therefore,
> I always make them pay for the credit report. (Since CIN Legal
> doesn't get me Equifax, I encourage but don't require them to go to
> www.annualcreditreport.com and pull the Equifax report.)
>
> 6) The BestCase reports can be instantly downloaded into the
> schedules, saving a lot of time. Though they must be reviewed and
> corrected, I have had little blowback from incomplete account numbers,
> even though the software automatically redacts those numbers; only
> occasional requests from Ch13 trustees for complete account numbers.
>
>
>
> Gerry
>
>
>
> McNally Bus Card Smaller
>
>
>
> Gerald McNally
>
> McNally & Associates, P.C.
>
> 517 East Wilson Ave., Ste 104
>
> Glendale, CA 91206
>
> 818.507.5100
>
> Fax: 818.507.5001
>
>
>
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The post was migrated from Yahoo.