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Chapter 7 unsecured judgment lien strip
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Still a preference. Cannot exempt property voluntarily transferred.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Nicholas
Sent: Thursday, April 30, 2009 10:22 AM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Chapter 7 unsecured judgment lien strip
I have a basic question. Assume that the potential Debtor has no house, and
virtually no assets. However, she paid back a loan to her son 3 months ago
in the amount of $8,000.00. So she took exempted cash and paid it to him.
Even though that is the case, it is still a preference, right?
Nicholas S. Nassif, Esq.
LAW OFFICES OF NICHOLAS S. NASSIF
3055 WILSHIRE BLVD.
SUITE 900
LOS ANGELES, CA 90010
TELEPHONE- 213-736-1899
FAX- 213-736-5656
WEB- www.nassif.com
E-MAIL- nsnassif@pacbell. net
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Message
Still a preference.
Cannot exempt property voluntarily transferred.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
I have a basic question. Assume that the potential Debtor has no house, and
virtually no assets. However, she paid back a loan to her son 3 months ago
in the amount of $8,000.00. So she took exempted cash and paid it to him.
Even though that is the case, it is still a preference, right?
Nicholas S. Nassif, Esq.
LAW OFFICES OF NICHOLAS S. NASSIF
3055 WILSHIRE BLVD.
SUITE 900
LOS ANGELES, CA 90010
TELEPHONE- 213-736-1899
FAX- 213-736-5656
WEB- www.nassif.com
E-MAIL- nsnassif@pacbell.net
The post was migrated from Yahoo.
Totally off the cuff -- and I could be totally wrong here -- but doesn't the
fact that it's a recorded and presumably perfected lien make it, by
definition, secured?
On a related note, am I the only one getting people who are coming in
demanding a lien strip of their undersecured second mortgage in a Chapter 7?
Someone is putting the info out there. I got this three times the past
week, and I never got these even a month ago.
bridgetgkelly
Sent: Wednesday, April 29, 2009 4:09 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Chapter 7 unsecured judgment lien strip
Is it possible to lien strip an unsecured judgment lien against debtor's
residence in a chapter 7? I thought I read that it was possible to lien
strip in a 7 if certain criteria were met. If so, is the motion similar to
the chapter 13 LAM? If it is different, does someone have a sample (I
didn't see one in "forms"). Thank you.
Yahoo! Groups Links
The post was migrated from Yahoo.
Is it possible to lien strip an unsecured judgment lien against debtor's residence in a chapter 7? I thought I read that it was possible to lien strip in a 7 if certain criteria were met. If so, is the motion similar to the chapter 13 LAM? If it is different, does someone have a sample (I didn't see one in "forms"). Thank you.
The post was migrated from Yahoo.