.jpg)
Secured Credit Card in Chapter 13
charset="windows-1251"
Banker's right of offset is in the Civil Code, I believe. But in some of
those cases the creditor, i.e. the credit card company, is NOT THE SAME
ENTITY as the bank. I have never explored whether ANOTHER entity related to
the bank can take advantage of the banker's right of offset. Consider that
possibility.
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.
Christine Wilton
Sent: Wednesday, June 02, 2010 1:28 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Secured Credit Card in Chapter 13
So,
I'm getting into the practice of objecting to POCs in Chapter 13 and I'm
stumped on this one.
My client has a secure credit card with Wells Fargo, N.A. who, by the way,
says that they file POCs on everything [just great....].
My client has $5000.00 on deposit and Wells closed the account and file the
POC.
They did not include a copy of the application, they only submitted a recent
statement; they did not describe the property securing the claim and only
marked the box "other" and stated the value at $5000.00
I know I could object on a 3001(c) because they did not include the contract
to secure their interest.
I'm just checking in as to whether it is your practice to object to these
secured credit card claims on behalf of the clients, or just let it play out
and they get their cash on deposit after the case is closed.
Your input is greatly appreciated. Thanks
Christine A. Wilton
Principal Attorney
Greifendorff Law Offices
333 City Boulevard West, 17th Floor
Orange, CA 92686
Office: 800-861-0786
Cell: 562-824-7563
Fax: 714-938-3255
Email: attorneychristine@ gmail.com
Web: www.greifenlaw. com
Blog: www.losangelesbankr
uptcylawmonitor.com
***************************
Confidentiality and Privilege. This e-mail message, including attachments,
is intended solely for review by the intended recipient(s) and may contain
confidential and privileged information. Any unauthorized review, use,
disclosure, or distribution is prohibited. Review by anyone other than the
intended recipient(s) shall not constitute a waiver of any ATTORNEY-CLIENT
PRIVILEGE or ATTORNEY WORK PRODUCT PROTECTION that may apply to this
communication. If you are not the intended recipient, please contact the
sender by return e-mail and destroy all copies of the original message.
Tax Advice Disclosure. Any tax information or written tax advice contained
in this email message, including attachments, is not intended to and cannot
be used by any taxpayer for the purpose of avoiding tax penalties that may
be imposed on the taxpayer. (The foregoing legend has been affixed pursuant
to U.S. Treasury Regulations governing tax practice.)
charset="windows-1251"
Message
Banker's right of offset is
in the Civil Code, I believe. But in some of those cases the creditor,
i.e. the credit card company, is NOT THE SAME ENTITY as the bank. I have
never explored whether ANOTHER entity related to the bank can take advantage of
the banker's right of offset. Consider that
possibility.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
So,
I'm getting into the practice of objecting to POCs in Chapter 13 and I'm
stumped on this one.
My client has a secure credit card with Wells Fargo, N.A. who, by the way,
says that they file POCs on everything [just great....].
My client has $5000.00 on deposit and Wells closed the account and file the
POC.
They did not include a copy of the application, they only submitted a recent
statement; they did not describe the property securing the claim and only
marked the box "other" and stated the value at $5000.00
I know I could object on a 3001(c) because they did not include the contract
to secure their interest.
I'm just checking in as to whether it is your practice to object to these
secured credit card claims on behalf of the clients, or just let it play out
and they get their cash on deposit after the case is closed.
Your input is greatly appreciated. Thanks
Christine A. Wilton
Principal Attorney
Greifendorff Law Offices
333 City Boulevard West, 17th Floor
Orange, CA 92686
Office: 800-861-0786
Cell: 562-824-7563
Fax: 714-938-3255
Email: attorneychristine@gmail.com
Web: www.greifenlaw.com
Blog: www.losangelesbankruptcylawmonitor.com
***************************
Confidentiality and Privilege. This e-mail message, including attachments,
is intended solely for review by the intended recipient(s) and may contain
confidential and privileged information. Any unauthorized review, use,
disclosure, or distribution is prohibited. Review by anyone other than the
intended recipient(s) shall not constitute a waiver of any ATTORNEY-CLIENT
PRIVILEGE or ATTORNEY WORK PRODUCT PROTECTION that may apply to this
communication. If you are not the intended recipient, please contact the
sender by return e-mail and destroy all copies of the original message.
Tax Advice Disclosure. Any tax information or written tax advice contained
in this email message, including attachments, is not intended to and cannot
be used by any taxpayer for the purpose of avoiding tax penalties that may
be imposed on the taxpayer. (The foregoing legend has been affixed pursuant
to U.S. Treasury Regulations governing tax practice.)
So,
I'm getting into the practice of objecting to POCs in Chapter 13 and I'm stumped on this one.
Myclient has a secure credit card with Wells Fargo, N.A. who, by the way, says that they file POCs on everything [just great....].
My client has $5000.00 on deposit and Wells closed the account and file the POC.
They did not include a copy of the application, they only submitted a recent statement; they did not describe the property securing the claim and only marked the box "other" and stated the value at $5000.00
I know I could object on a 3001(c) because they did not include the contract to secure their interest.
I'm just checking in as to whether it is your practiceto object to these secured credit card claims on behalf of the clients, or just let it play out and they get their cash on deposit after the case is closed.
Your input is greatly appreciated. Thanksdorff Law Offices333 City Boulevard West, 17th FloorOrange, CA 92686
Office: 800-861-0786Cell: 562-824-7563Fax: 714-938-3255Email: attorneychristine@gmail.comWeb: www.greifenlaw.com
Blog: www.los
The post was migrated from Yahoo.