Legal Question in Bankruptcy in Ohio

I have to file bankruptcy in ohio. My attorney keeps telling me that I have to forfeit my vested interest in my ESOP if I file chapter 7 and that becomes the trustees money. I have spoken with my CFO of the company and I keep being told that this is protected under Erisa law and ohio law. I am very confused. Also he is telling me that I cannot file chapter 7 due to my means test and the money my husband is "giving" me. We are separated and this is child support payments is that excluded from the means test.


Asked on 11/12/14, 2:42 am

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Because you state that you have a lawyer, I cannot offer any substantive comment here.

However, that said, if you are unhappy with your current lawyer (which it sounds like you are, since your lawyer is evidently not explaining things in a way that you understand), fire him/her and hire another lawyer who does explain things in a way you understand. I can virtually guarantee that you can find more than just the one bankruptcy lawyer within a 25-mile radius of your home or work. You can get at least a partial refund of any fees you have paid to your current lawyer; we have to earn our money before we get to keep it. Understand, though, that the more you contact your current lawyer, the more of your fee s/he has the right to bill for and keep; most attorneys bill by time spent on a client's matter (including conversations with that client), not by client happiness.

Understand that your CFO, unless s/he is an attorney, cannot give you legal advice in any state, including Ohio.

Understand also that, if you do fire your current lawyer, I have no interest in taking your case; I'm in New York, about 400 miles from the eastern part of Ohio.

THIS POST CONTAINS GENERAL INFORMATION AND IS INTENDED FOR ENTERTAINMENT PURPOSES ONLY. IT DOES NOT CONSTITUTE LEGAL ADVICE, NOR DOES IT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP. FOR LEGAL ADVICE ON YOUR PARTICULAR MATTER, CONSULT YOUR ATTORNEY.

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Answered on 11/14/14, 7:16 am


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