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Student Loans, Wolff and Debt Limits
Is any of the non-student debt contingent or unliquidated so that it
wouldnt count toward the debt limits?
On Tue, Aug 14, 2018 at 7:36 AM Hale Andrew Antico bk.lawyer@gmail.com
[cdcbaa] wrote:
>
>
> Potential Chapter 13 L.A. client has massive student loan debt which puts
> him over the unsecured debt limit of 109(e). But for the student loans,
> it's under the limit. If the plan proposes the student loans are paid
> directly per *Wolff* 22 B.R. 510 (9th Cir, 1982), there's a chance most
> or all of the other unsecured debt would get 100%. That would still run up
> against the language of 109(e), though there's an argument that the debt
> isn't being managed or disbursed by the trustee so it shouldn't "count,"
> circumventing the letter of the statute for the rationale and spirit of it.
> Debtor doesn't want Chapter 11.
>
> Questions:
>
> 1) has anyone successfully confirmed a Chapter 13 plan in L.A. with
> over-the-limit facts where *Wolff* was in play and was approved? (or even
> generally)
>
> 2) In a *Wolff* scenario, must the payment to the student loans (or
> dentist or whomever) be the contractual monthly amount, or is a new
> proposed one possible (pending objection)?
>
> Thanks!
>
> Hale
>
> --
> *Hale Andrew Antico*
>
> (888) 54-BKLAW
> http://www.los-angeles-bankruptcy.net
>
> *Vice-President, Board Member, Central Dist Consumer Bankruptcy Attorneys'
> Assn.(CDCBAA)*
> *Past President, Board Member, James T. King Bankruptcy Inn of Court*
> *Member, National Association of Consumer Bankruptcy Attorneys (NACBA)*
>
> *We are a federally designated Debt Relief Agency under the United States
> Bankruptcy Laws.*
> *We assist people with finding solutions to their debt problems,
> including, where appropriate, assisting them with the filing of petitions
> for relief under the United States Bankruptcy Code.*
>
> *Email isn't secure, so it's not confidential. By communicating with me by
> email, you understand that it's not confidential.*
>
> *This does not constitute an electronic signature.*
>
>
>
null
Is any of the non-student debt contingent or unliquidated so that it wouldnt count toward the debt limits?On Tue, Aug 14, 2018 at 7:36 AM Hale Andrew Antico bk.lawyer@gmail.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Potential Chapter 13 L.A. client has massive student loan debt
which puts him over the unsecured debt limit of 109(e). But for
the student loans, it's under the limit. If the plan proposes the
student loans are paid directly per Wolff 22 B.R. 510 (9th
Cir, 1982), there's a chance most or all of the other unsecured
debt would get 100%. That would still run up against the language
The post was migrated from Yahoo.
If the trustee raises the 109(e) debt limit issue, then the court must look only at the schedules... no public policy or "spirit of the law" arguments will apply.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Tuesday, August 14, 2018, 7:36:33 AM PDT, Hale Andrew Antico bk.lawyer@gmail.com [cdcbaa] wrote:
Potential Chapter 13 L.A. client has massive student loan debt which puts him over the unsecured debt limit of 109(e). But for the student loans, it's under the limit. If the plan proposes the student loans are paid directly per Wolff 22 B.R. 510 (9th Cir, 1982), there's a chance most or all of the other unsecured debt would get 100%. That would still run up against the language of 109(e), though there's an argument that the debt isn't being managed or disbursed by the trustee so it shouldn't "count," circumventing the letter of the statute for the rationale and spirit of it. Debtor doesn't want Chapter 11.
Questions:
1) has anyone successfully confirmed a Chapter 13 plan in L.A. with over-the-limit facts where Wolff was in play and was approved? (or even generally)
2) In a Wolff scenario, must the payment to the student loans (or dentist or whomever) be the contractual monthly amount, or is a new proposed one possible (pending objection)?
Thanks!
Hale
Hale Andrew Antico
(888) 54-BKLAW
http://www.los-angeles-bankruptcy.net
Vice-President, Board Member, Central Dist Consumer Bankruptcy Attorneys' Assn.(CDCBAA)
Past President, Board Member, James T. King Bankruptcy Inn of Court
Member, National Association of Consumer Bankruptcy Attorneys (NACBA)
We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws.
We assist people with finding solutions to their debt problems, including, where appropriate, assisting them with the filing of petitions for relief under the United States Bankruptcy Code.
Email isn't secure, so it's not confidential. By communicating with me by email, you understand that it's not confidential.
This does not constitute an electronic signature.
The post was migrated from Yahoo.
Potential Chapter 13 L.A. client has massive student loan debt which
puts him over the unsecured debt limit of 109(e). But for the student
loans, it's under the limit. If the plan proposes the student loans are
paid directly per _Wolff_ 22 B.R. 510 (9th Cir, 1982), there's a chance
most or all of the other unsecured debt would get 100%. That would still
run up against the language of 109(e), though there's an argument that
the debt isn't being managed or disbursed by the trustee so it shouldn't
"count," circumventing the letter of the statute for the rationale and
spirit of it. Debtor doesn't want Chapter 11.
Questions:
1) has anyone successfully confirmed a Chapter 13 plan in L.A. with
over-the-limit facts where _Wolff_ was in play and was approved? (or
even generally)
2) In a _Wolff_ scenario, must the payment to the student loans (or
dentist or whomever) be the contractual monthly amount, or is a new
proposed one possible (pending objection)?
Thanks!
Hale
*/Hale Andrew Antico/*
(888) 54-BKLAW
http://www.los-angeles-bankruptcy.net
/Vice-President, Board Member, Central Dist Consumer Bankruptcy
Attorneys' Assn.(CDCBAA)/
/Past President, Board Member, James T. King Bankruptcy Inn of Court/
/Member, National Association of Consumer Bankruptcy Attorneys (NACBA)/
/We are a federally designated Debt Relief Agency under the United
States Bankruptcy Laws./
/We assist people with finding solutions to their debt problems,
including, where appropriate, assisting them with the filing of
petitions for relief under the United States Bankruptcy Code./
/Email isn't secure, so it's not confidential. By communicating with me
by email, you understand that it's not confidential./
/This does not constitute an electronic signature./
The post was migrated from Yahoo.