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722 Redemption
I just got denied a motion to redeem a car (section 722) in a PC case. Motion denied without predudice. Because the car is upside down (way upside down) I didn't list it as "exempt" as there is no eqiuty to exempt. Motion was denied because the property has to be "exempt" or "abandoned" to use 722.
OK, I get it, and the judge is technically correct. Whats the fix? Do I file an amended Schedule C and declare the negative equity "exempt", or is a 722 financing motion really two motions, a motion to abandon and a motion to redeem?
Anyone have this issue?
The post was migrated from Yahoo.
Contact member Tyson Takeuchi. He is the king in this area.
KEITH
THE LAW OFFICES OF KEITH ALAN HIGGINBOTHAM
255 S. Grand Avenue, Suite #2109
Los Angeles, CA 90012-3045
Phone: 213.620.0176
Facsimile: 213.613.1200
HigginbothamLaw@aol.com
To: cdcbaa@yahoogroups.com
Sent: Tue, Jun 29, 2010 8:52 am
Subject: [cdcbaa] 722 Redemption
Does someone have or know of cases in Los Angeles office where I can see examples as to how to do a 722 redemption?
Thank you!!
Paul Horn, ESQ., CPA
Attorney at Law
Certified Public Accountant
1045 E. Valley Blvd., Suite A215
San Gabriel, CA 91770
626-695-7310
www.paulhornlawfirm.com
Contact member Tyson Takeuchi. He is the king in this area.
KEITH
THE LAW OFFICES OF KEITH ALAN HIGGINBOTHAM
255 S. Grand Avenue, Suite #2109
Los Angeles, CA 90012-3045
Phone: 213.620.0176
Facsimile: 213.613.1200
HigginbothamLaw@aol.com
To: cdcbaa@yahoogroups.com
Sent: Tue, Jun 29, 2010 8:52 am
Subject: [cdcbaa] 722 Redemption
Does someone have or know of cases in Los Angeles office where I can see examples as to how to do a 722 redemption?
Thank you!!
Paul Horn, ESQ., CPA
Attorney at Law
Certified Public Accountant
1045 E. Valley Blvd., Suite A215
San Gabriel, CA 91770
626-695-7310
www.paulhornlawfirm.com
#AOLMsgPart_2_76cb9471-d637-420c-a924-ad4acbb3f070 t
The post was migrated from Yahoo.
Does someone have or know of cases in Los Angeles office where I can see examples as to how to do a 722 redemption?
Thank you!!
Paul Horn, ESQ., CPA
Attorney at Law
Certified Public Accountant
1045 E. Valley Blvd., Suite A215
San Gabriel, CA 91770
626-695-7310
www.paulhornlawfirm.com
Does someone have or know of cases in Los Angeles office where I can see examples as to how to do a 722 redemption? Thank you!! Paul Horn, ESQ., CPA Attorney at LawCertified Public Accountant1045 E. Valley Blvd., Suite A215San Gabriel, CA 91770626-695-7310www.paulhornlawfirm.com
The post was migrated from Yahoo.