As an attorney, I would advise folks not to engage in unauthorized practice
of law, which is itself illegal. "Practice of law" is application of legal
rules to specific sets of real facts for the purpose of offering legal
advice. Tell people who are contemplating bankruptcy to see a good
bankruptcy lawyer. --jks
>
>
>I've been bugging an actor friend of mine to file for bankruptcy and
>sending him ominous articles about the doom to come. But true to the
>spirit that got him in this spot in the first place, he immediately
>spotted that one of my articles mentioned a six-month grace period -- so,
>he reasoned, he could put off filing that much longer. Is there a hole in
>this argument that I should tell him about? Or am I just an ant arguing
>with a grasshopper? The article that inspired his procrastination is
>excerpted below. I have to admit, if there isn't any increased danger of
>getting caught out, there's something to be said for getting his money's
>worth. Besides the fact that, when he gives up his cards, he may have to
>throw in the towel on this dream earlier than he intended.
>
>Michael
>
>New York Times
>
>March 9, 2001
>
>Bill to Restrict Bankruptcies May Lead to Surge in Filings
>
>By RIVA D. ATLAS
>
> A s legislation to tighten the rules for filing for bankruptcy gathers
> momentum in Congress, consumers facing a financial squeeze are being
> advised to act sooner rather than later.
>
> Lawyers say they are cautioning clients not to delay, and some are
> running advertisements. Those actions and a continued weakening of the
> economy are likely to contribute to a surge in filings this year.
>
><snip>
>
> "My Chapter 7 business is up 25 percent so far this year," said
> Barbara Wyskowski, a consumer bankruptcy lawyer based in Sea Girt,
> N.J., adding that she gets several e- mail inquiries a day about the
> legislation. Ms. Wyskowski predicts that business will pick up more if
> the law is passed. From the time the legislation is signed into law,
> there will be a six-month period before the changes take effect.
>
> Robert A. Goering Sr., a consumer bankruptcy lawyer in Cincinnati, who
> noted little pickup in his work so far, said: "I'd expect a 10 to 15
> percent increase in bankruptcy filings if the law passes in the six
> months preceding its implementation. Then I'd expect a dramatic
> decline after it becomes effective."
>
><end excerpt>
>
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