<html>
<head>
<meta http-equiv="Content-Type" content="text/html;
charset=windows-1252">
</head>
<body>
<div class="moz-cite-prefix">On 6/30/2021 9:09 AM, Paul Neumiller
wrote:<br>
</div>
<blockquote type="cite"
cite="mid:MW3PR13MB39808A4EA34883475472DDBDD2019@MW3PR13MB3980.namprd13.prod.outlook.com">
<meta http-equiv="Content-Type" content="text/html;
charset=windows-1252">
<meta name="Generator" content="Microsoft Word 15 (filtered
medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]-->
<style>@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
font-size:11.0pt;
font-family:"Calibri",sans-serif;}a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}span.EmailStyle19
{mso-style-type:personal-reply;
font-family:"Times New Roman",serif;
color:windowtext;
font-weight:normal;
font-style:normal;}.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri",sans-serif;}div.WordSection1
{page:WordSection1;}</style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
<div class="WordSection1"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">This reminds of when the feds greatly
revised the bankruptcy laws to make it harder to declare
bankruptcy. The bankruptcy rules got so complicated,
byzantine, and frustrating that many bankruptcy
practitioners left the field. I’m getting phone calls from
potential clients with units in other counties because they
can’t find an attorney in their own county who wants to
address this morass.
<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="Paul_A__Neumiller"
moz-do-not-send="true"><img
style="width:2.6in;height:1.5583in" id="_x0000_i1025"
src="cid:part1.E6643CA3.72D463D3@comcast.net" class=""
width="250" height="150"></a><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:9.0pt;font-family:"Times New
Roman",serif"> <o:p></o:p></span></p>
</div>
<br>
</blockquote>
<p>Having been one of the bankruptcy attorneys that left the field,
I don't think that description of what happened is quite accurate.</p>
<p>For me it was primarily two concerns. First, that automobile
loans would have to be reaffirmed or the car returned, with
reaffirmation requiring the attorney to attest that reaffirmation
was not an undue hardship. Having only reaffirmed one auto loan
in my entire career where the vehicle was modified for handicap
use, I did not want that repeated ethical dilemma. That was
particularly true given the fact that many auto loans are
negotiated at auto dealers and hardly on the best terms. Congress
completely sold out on that one. Unfortunately our state
legislature had sold out several years earlier and did away with
statutory provisions preventing collection of a deficiency on such
loans. Banks are apparently very good at dishing out money to
politicians. <br>
</p>
<p>Second was provisions allowing creditors to come after debtors'
attorneys personally, akin to CR 11, but on much looser
standards. Fortunately the courts pretty much shut that one down,
but I did not know that in advance.<br>
</p>
<p>As to others leaving, that was likely also due to a severe drop
off in case filings due to the press completely misrepresenting
the effect of the changes. Everyone and their brothers who even
thought the word bankruptcy filed before the new Act went into
effect, whether they needed to or not. There was a long dry spell
in filings.</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
206 723-2148</pre>
</body>
</html>