What Bankruptcy Actually Does with Attorney Barry Levine
People hear "bankruptcy" and picture a U-Haul and a foreclosure sign. Barry Levine has spent 45 years explaining why that's usually wrong.
Most Chapter 7 cases are what he calls assetless. You file, four months later you get your discharge, and you still own your home. The cars. The pension. Trustees don't sell houses for the fun of it — in an assetless case they get paid $60. They take the path of least resistance, which is doing nothing.
In this episode, Barry walks through what actually happens when creditors come calling:
The timeline nobody tells you. First the notices. Then the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.