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401(k) loan repayments in chapter 13
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I finally found the relevant authorities: 1322(f), and In re Lasowski, 384
BR 205. Thanks.
- John D. Faucher
On 10/20/10 9:24 AM, "Hale Andrew Antico" wrote:
>
>
>
>
>
> I have successfully argued, citing relevant caselaw, that in a Chapter 13, a
> 401K loan repayment is a reduction of income. Egebjerg is limited to Chapter
> 7 for B22 purposes. Hale
>
>>
>>
>>
Of
>> John Faucher
>> Sent: Wednesday, October 20, 2010 8:53 AM
>> To: cdcbaa@yahoogroups.com
>> Subject: [cdcbaa] 401(k) loan repayments in chapter 13
>>
>>
>> Hello all -
>> I have a client who has $800/month taken out of his paycheck to repay a
>> 401k loan. Can I deduct this from his monthly disposable income on Form B22C
>> in a chapter 13?
>> The form says you can, right at line 55. Case law Ive seen (Egebjerge
>> and its relatives) says that a mandatory 401k loan repayment does not reduce
>> income for means test purposes, but all case law relates to chapter 7, not
>> 13. Learned counsel contributing to this listserve indicate that the
>> reduction is appropriate in chapter 13, not in 7. I cant find anything in
>> 1325(b) that looks relevant.
>> Is there statutory or other authority for this position? Or can I cite
>> to a greybeard email if challenged?
>>
>>>
>>>>
>>>>>
>>>>>
>>>>>> John D. Faucher
>>>>>> Hurlbett & Faucher
>>>>>> 5743 Corsa Ave., Suite 208
>>>>>> Westlake Village, CA 91362
>>>>>> (818) 889-8080
>>>>>> Fax: (805) 367-4154
>>>>>> http://www.hurlbettfaucher.com/
>>>>>>
>>>>>> 3324 State Street, Suite O
>>>>>> Santa Barbara, CA 93105
>>>>>> (805) 963-9111
>>>>
>>>>
>>>>
>>>> This electronic mail message and any attached files are confidential,
>>>> contain information intended for the exclusive use of the individual or
>>>> entity to whom it is addressed, and may be legally privileged. If you are
>>>> not the intended recipient, please immediately reply to John Faucher (at
>>>> 805/963-9111 x103 or john@hf-bklaw.com) indicating that you received this
>>>> message and then delete the message without delay. Thank you for your
>>>> cooperation.
>>>>
>>>> Disclosure Under U.S. IRS Circular 230: The recipient may not use any tax
>>>> advice contained in this communication, including any attachments, for the
>>>> purpose of avoiding federal tax related penalties or promoting, marketing
>>>> or recommending to another party any particular transaction or matter.
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>>>> - John D. Faucher
>>>>
>>>>
>>>>
>>>>
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Re: [cdcbaa] 401(k) loan repayments in chapter 13
I finally found the relevant authorities: 1322(f), and In re Lasowski, 384 BR 205. Thanks.
- John D. Faucher
On 10/20/10 9:24 AM, "Hale Andrew Antico" <bk.lawyer@gmail.com> wrote:
I have successfully argued, citing relevant caselaw, that in a Chapter 13, a 401K loan repayment is a reduction of income. Egebjerg is limited to Chapter 7 for B22 purposes. Hale
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of John Faucher
Sent: Wednesday, October 20, 2010 8:53 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] 401(k) loan repayments in chapter 13
Hello all -
I have a client who has $800/month taken out of his paycheck to repay a 401k loan. Can I deduct this from his monthly disposable income on Form B22C in a chapter 13?
The form says you can, right at line 55. Case law I’ve seen (Egebjerge and its relatives) says that a mandatory 401k loan repayment does not reduce income for means test purposes, but all case law relates to chapter 7, not 13. Learned counsel contributing to this listserve indicate that the reduction is appropriate in chapter 13, not in 7. I can’t find anything in 1325(b) that looks relevant.
Is there statutory or other authority for this position? Or can I cite to a greybeard email if challenged?
John D. Faucher
Hurlbett & Faucher
5743 Corsa Ave., Suite 208
Westlake Village, CA 91362
(818) 889-8080
Fax: (805) 367-4154
http://www.hurlbettfaucher.com/
3324 State Street, Suite O
Santa Barbara, CA 93105
(805) 963-9111
The post was migrated from Yahoo.
charset="ISO-8859-1"
Hello all -
I have a client who has $800/month taken out of his paycheck to repay a
401k loan. Can I deduct this from his monthly disposable income on Form B22C
in a chapter 13?
The form says you can, right at line 55. Case law Ive seen (Egebjerge
and its relatives) says that a mandatory 401k loan repayment does not reduce
income for means test purposes, but all case law relates to chapter 7, not
13. Learned counsel contributing to this listserve indicate that the
reduction is appropriate in chapter 13, not in 7. I cant find anything in
1325(b) that looks relevant.
Is there statutory or other authority for this position? Or can I cite
to a greybeard email if challenged?
>>>
>>>> John D. Faucher
>>>> Hurlbett & Faucher
>>>> 5743 Corsa Ave., Suite 208
>>>> Westlake Village, CA 91362
>>>> (818) 889-8080
>>>> Fax: (805) 367-4154
>>>> http://www.hurlbettfaucher.com/
>>>>
>>>> 3324 State Street, Suite O
>>>> Santa Barbara, CA 93105
>>>> (805) 963-9111
>
>
> This electronic mail message and any attached files are confidential, contain
> information intended for the exclusive use of the individual or entity to whom
> it is addressed, and may be legally privileged. If you are not the intended
> recipient, please immediately reply to John Faucher (at 805/963-9111 x103 or
> john@hf-bklaw.com) indicating that you received this message and then delete
> the message without delay. Thank you for your cooperation.
>
> Disclosure Under U.S. IRS Circular 230: The recipient may not use any tax
> advice contained in this communication, including any attachments, for the
> purpose of avoiding federal tax related penalties or promoting, marketing or
> recommending to another party any particular transaction or matter.
>
>
>
>
>
>
charset="ISO-8859-1"
401(k) loan repayments in chapter 13
Hello all -
I have a client who has $800/month taken out of his paycheck to repay a 401k loan. Can I deduct this from his monthly disposable income on Form B22C in a chapter 13?
The form says you can, right at line 55. Case law I’ve seen (Egebjerge and its relatives) says that a mandatory 401k loan repayment does not reduce income for means test purposes, but all case law relates to chapter 7, not 13. Learned counsel contributing to this listserve indicate that the reduction is appropriate in chapter 13, not in 7. I can’t find anything in 1325(b) that looks relevant.
Is there statutory or other authority for this position? Or can I cite to a greybeard email if challenged?
John D. Faucher
Hurlbett & Faucher
5743 Corsa Ave., Suite 208
Westlake Village, CA 91362
(818) 889-8080
Fax: (805) 367-4154
http://www.hurlbettfaucher.com/
3324 State Street, Suite O
Santa Barbara, CA 93105
(805) 963-9111
The post was migrated from Yahoo.