Thanks for watching! As I mentioned, you can take our Bankruptcy Pros and Cons Calculator here: tryascend.com/qualify/bankruptcy/ch7/route/youtubeprosandcons If you have any questions, feel free to give us at 833-272-3631!
A bankruptcy attorney wants a POA over myself and spouse post petition. He is requiring that we sign an additional document to agree to this along with representation post filing. We've already agreed to representation and it is our understanding that the agreed fees we're inclusive of any post petition activities such as the initial creditors meeting. I think this attorney has Allterior motives to gain control over mineral royalties. Can he be awarded this if there is no real property owned? And why would it be necessary and/or advantageous for the POA over us?
Hmm. That is a very uncommon situation. Here is what I would dive deeper into: Ask the attorney to explain why the POA is necessary. Request a narrowly tailored POA that explicitly defines the scope of authority and limits it to bankruptcy-related matters only. Ensure the representation agreement aligns with your understanding that fees cover post-petition activities like the creditors' meeting. Consult another attorney if you suspect the POA might be used for purposes beyond bankruptcy representation.
Potentially! You would just have to confirm with the attorney but, in most cases, if you are current on your car payments, they may be able to just reaffirm the car loan and allow you to continue paying on it. Feel free to give us a call at 833-272-3631 if you have other questions!
Great question! There are state exemptions to protect retirement accounts so it may depend on what state you live in, most states provide full protection but you would have to check, an attorney would be able to tell you as well. Give us a call if you need more info!
![Bankruptcy - [Keeping your House and Car]](/img/n.gif)
Thanks for watching! As I mentioned, you can take our Bankruptcy Pros and Cons Calculator here: tryascend.com/qualify/bankruptcy/ch7/route/youtubeprosandcons
If you have any questions, feel free to give us at 833-272-3631!
A bankruptcy attorney wants a POA over myself and spouse post petition. He is requiring that we sign an additional document to agree to this along with representation post filing. We've already agreed to representation and it is our understanding that the agreed fees we're inclusive of any post petition activities such as the initial creditors meeting. I think this attorney has Allterior motives to gain control over mineral royalties. Can he be awarded this if there is no real property owned? And why would it be necessary and/or advantageous for the POA over us?
Hmm. That is a very uncommon situation. Here is what I would dive deeper into:
Ask the attorney to explain why the POA is necessary.
Request a narrowly tailored POA that explicitly defines the scope of authority and limits it to bankruptcy-related matters only.
Ensure the representation agreement aligns with your understanding that fees cover post-petition activities like the creditors' meeting.
Consult another attorney if you suspect the POA might be used for purposes beyond bankruptcy representation.
I recently leased a new car. Could I keep my car?
Potentially! You would just have to confirm with the attorney but, in most cases, if you are current on your car payments, they may be able to just reaffirm the car loan and allow you to continue paying on it. Feel free to give us a call at 833-272-3631 if you have other questions!
Could I keep my retirement ? I am 73
Great question! There are state exemptions to protect retirement accounts so it may depend on what state you live in, most states provide full protection but you would have to check, an attorney would be able to tell you as well. Give us a call if you need more info!