What happens if debtor’s attorney is unable to find and retrieve the original document when prosecutors want to prosecute?.What happens if retained documents are destroyed by fire, tornado or hurricane?.What happens if debtor’s attorney does comply but, during an office move, documents are lost or destroyed?.What happens if debtor’s attorney fails to comply?.Consider these prosecution problems under existing document retention rules: īut the prosecution rationale has problems.
#Open road bankruptcy documents manual#
To adopt a national rule requiring the retention of hard copy documents with manual signatures for four years.To further this rationale, a suggested approach in recent years, is this: is to preserve evidence for any subsequent criminal prosecutions involving bankruptcy fraud or other bankruptcy-related crimes.” Why are multi-year document retention requirements imposed in bankruptcy for original documents bearing wet ink signatures? Here’s why: For a debtor attorney who files lots of cases, we’re talking truckloads of documents.Īdditionally, compliance with such requirements is difficult, and prospects for fraud and abuse in the compliance effort are rampant.
Retention of documents over multiple years creates serious problems. One vestige of our bankruptcy system holding onto the past is a combination of requiring, (i) debtors’ wet ink signatures on paper documents, and (ii) a multi-year retention of documents signed in wet ink. Retention of Documents with Wet Ink Signatures The bankruptcy system in these United States has similar holding onto the past problems, as it progresses into the digital world.
Or, perhaps you have a “paperless” office with an attorney whose papers are spread high and deep across every desk, table, credenza and vacant floor space in his/her office. Holding onto the past (photo by Marilyn Swanson)ĭo you have any fuddy-duddies in the family holding onto the past: they refuse to get a computer or smart phone or to use email or text messaging? If so, family communications require someone to pass-on information by snail mail or telephone-if anyone bothers at all.
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