Bankruptcy Week Day 1 Recap
Bankruptcy Week started today. Read this blog post for a recap of day 1.
  • Bankruptcy Week
  • legal
  • tech
NextChapter Team
Published on May 11, 2020

 

Professionals in bankruptcy law and tech are gathering for the Bankruptcy Week Summit, a virtual conference that’s free to attend and is geared toward attorneys new to bankruptcy. The summit runs from May 11 to May 15, and all sessions will be held on Livestream.

 

Bankruptcy Week kicked off on Monday, May 11, with these three sessions from experts in legal and tech:

 

Session 1: The State of Bankruptcy & the Economy Today

Janine Sickmeyer is the Managing Director and Founder of NextChapter, the leading bankruptcy software platform and co-sponsor of Bankruptcy Week. Janine previously worked as a paralegal and saw a need for better legal software for bankruptcy attorneys. She built NextChapter from the ground up after teaching herself how to code. In her keynote, Janine discussed the state of bankruptcies today, touching on impacts already seen from COVID-19 on the economy, and how attorneys can help businesses and individuals find financial relief.

 

What was covered:

  • The story of NextChapter and Janine Sickmeyer (Founder & Managing Director of NextChapter).
  • Now more than ever, people are seeking financial relief from the hardships they are facing. Businesses are closing their doors, employees are losing their sole source of income.
  • Over 22 million people have filed bankruptcy since the start of COVID-19, and we expect to see an uptick in bankruptcy cases.
  • This week is designed to teach the basics of bankruptcy, and allow attorneys all over the world to network and learn about BK.
  • An introduction into what the rest of the week entails; including educational sessions, informative chats, and more.

 

Session 2: Bankruptcy Basics with Ron Drescher

Host: Ronald J. Drescher is Managing Attorney at Drescher & Associates, P.A., and has 35 years of experience practicing bankruptcy law. He is the author of various books and articles, has received more than 150 five-star reviews on Google and Avvo.com, and regularly posts videos about bankruptcy on his YouTube channel. Especially helpful for attorneys new to bankruptcy, Ron’s Bankruptcy Basics session offered an introductory look into the law area, including how to start practicing bankruptcy law.

 

What was covered:

  • Three questions every lawyer must ask
    • When do we need to file?
    • Where to file?
    • What chapter should you file?
  • Lawyers also must pay close attention to income considerations. They must look at the past 6 months of income, and decide if the client should wait to file.
  • The 8-year rule is the most common rule BK lawyers must know.
  • Non-bankruptcy solutions are also important options for lawyers to present to their clients where applicable.

 

Session 3: Navigating the Transition into Bankruptcy Law

Host: Ed Walters is CEO and co-founder of Fastcase, the leading legal research company. He’s the author of the book Data-Driven Law and teaches law courses at Georgetown Law and Cornell Law School. Mandy Ballinger moderated this session and is NextChapter's Director of Operations. She leads the company's daily and development operations and the Paralegal Network. Mandy previously worked as a paralegal in bankruptcy and foreclosure law. In his fireside chat, Ed discussed the major impacts that COVID-19 is having on law firms, and how practices can adjust and keep moving forward.

 

What was covered:

  • With COVID-19, fillings are down for bankruptcy, which is a trend we are seeing across all legal areas. This is due to the fact that everything is on a stand still, including courts.
  • The needs of our clients are changing very quickly, and we need to change with them.
  • Talking to the experts, whether it is NACBA or other lawyers who can serve as mentors, can help you grow as a BK attorney.
  • Paralegals do 85 to 90% of the work to prepare petitions and can be extremely important to your practice. You can find a contract, virtual paralegal here: https://paralegalasaservice.com/
  • Bankruptcy law is a volume business, and the best way to make money and help a lot of people is to handle a lot of clients.

 

You won't want to miss out on day two of Bankruptcy Week, Tuesday, May 12:

Chapter 13 Bankruptcies with Athena Inembolidis at 12:00 PM ET

Women of Legal Tech Panel with Jess Birken, Ivy Grey, and Cat Moon, Moderated by Janine Sickmeyer at 2:00 PM ET

Happy Hour Chat: Social Media & Law Firm Culture with Jordan Couch at 5:00 PM ET

 

Register for Bankruptcy Week for free and learn more about upcoming sessions here!