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60-month plan for below median debtor?
Mark,
no problem from TE or secured creditors whatsoever. Probably a no-
brainer 0% plan, (unless liquidation analysis issues)
Ty Takeuchi
>
> Debtor needs to cure arrerages on a mortgage and wants to do a 60-
month Ch. 13 plan, but is way below median on the means test. In
fact, the funds to make the plan work will be coming from relatives.
>
> The way I read the Code, it seems like the 60 months would only be
allowed for cause if approved by the Court. What are the chances
(would be a Valley case)?
>
> Thanks,
>
> ______________________
> Mark J. Markus
> Law Office of Mark J. Markus
> 11684 Ventura Blvd. PMB #403
> Studio City, CA 91604-2652
> (818)509-1173 (818)509-1460 (fax)
> web: http://www.bklaw.com/
> This Firm is a Qualified Federal Debt Relief Agency
> ___________
> NOTICE: This Electronic Message contains information from the law
office of Mark J. Markus that may be privileged. The information is
intended for the use of the addressee only. If you are not the
addressee, note that any disclosure, copy, distribution or use of the
contents of this message is prohibited.
> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements
imposed by the IRS, we inform you that any U.S. tax advice contained
in this communication (or in any attachment) is not intended or
written to be used, and cannot be used, for the purpose of (i)
avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any
transaction or matter addressed in this communication (or in any
attachment).
>
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>
> Debtor needs to cure arrerages on a mortgage and wants to do a 60-
month Ch. 13 plan, but is way below median on the means test. In
fact, the funds to make the plan work will be coming from relatives.
>
> The way I read the Code, it seems like the 60 months would only be
allowed for cause if approved by the Court. What are the chances
(would be a Valley case)?
>
> Thanks,
>
> ______________________
> Mark J. Markus
> Law Office of Mark J. Markus
> 11684 Ventura Blvd. PMB #403
> Studio City, CA 91604-2652
> (818)509-1173 (818)509-1460 (fax)
> web: http://www.bklaw.com/
> This Firm is a Qualified Federal Debt Relief Agency
> ___________
> NOTICE: This Electronic Message contains information from the law
office of Mark J. Markus that may be privileged. The information is
intended for the use of the addressee only. If you are not the
addressee, note that any disclosure, copy, distribution or use of the
contents of this message is prohibited.
> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements
imposed by the IRS, we inform you that any U.S. tax advice contained
in this communication (or in any attachment) is not intended or
written to be used, and cannot be used, for the purpose of (i)
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promoting, marketing or recommending to another party any
transaction or matter addressed in this communication (or in any
attachment).
>
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charset="US-ASCII"
About100%
I file most of my cases as 60 months (all of the 100% cases) and have
never had an objection
Erik Clark
Borowitz, Lozano & Clark, LLP
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
Office: (626) 332-8600
Fax: (626) 332-8644
eclark@BLClaw.com
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100% as long a the Plan is feasible. I've never heard of a judge refusing a longer than 36 month plan for curing arrears.
Mark JM wrote: Debtor needs to cure arrerages on a mortgage and wants to do a 60-month Ch. 13 plan, but is way below median on the means test. In fact, the funds to make the plan work will be coming from relatives.
The way I read the Code, it seems like the 60 months would only be allowed for cause if approved by the Court. What are the chances (would be a Valley case)?
Thanks,
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
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100% as long a the Plan is feasible. I've never heard of a judge refusing a longer than 36 month plan for curing arrears.Mark JM <bklawr@yahoo.com> wrote: Debtor needs to cure arrerages on a mortgage and wants to do a 60-month Ch. 13 plan, but is way below median on the means test. In fact, the funds to make the plan work will be coming from relatives. The way I read the Code, it seems like the 60 months
would only be allowed for cause if approved by the Court. What are the chances (would be a Valley case)? Thanks, ______________________Mark J. MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA 91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is a Qualified Federal Debt Relief Agency___________NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.IRS CIRCULAR 230
NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
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Debtor needs to cure arrerages on a mortgage and wants to do a 60-month Ch. 13 plan, but is way below median on the means test. In fact, the funds to make the plan work will be coming from relatives.
The way I read the Code, it seems like the 60 months would only be allowed for cause if approved by the Court. What are the chances (would be a Valley case)?
Thanks,
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
Debtor needs to cure arrerages on a mortgage and
wants to do a 60-month Ch. 13 plan, but is way below median on the means
test. In fact, the funds to make the plan work will be coming from
relatives.
The way I read the Code, it seems like the 60
months would only be allowed for cause if approved by the Court. What are
the chances (would be a Valley case)?
Thanks,
______________________Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is aQualified Federal Debt Relief Agency___________NOTICE: This Electronic
Message contains information from the law office of Mark J. Markus that may be
privileged. The information is intended for the use of the addresseeonly. If you are not the addressee, note that any disclosure, copy,
distribution or use of the contents of this message is prohibited.IRS
CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS,
we inform you that any U.S. tax advice contained in this communication (or in
any attachment) is not intended or written to be used, and cannot be used, for
the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed in this communication (or in any
attachment).
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