Offset by Credit Union After Chapter 7 is Filed

Yahoo Bot · Wed Aug 04, 2010 2:46 pm

Credit Union claims they put an "administrative freeze" on the account, and that
without doing more, they will take the funds once the discharge is entered.
I agree that 362(a)(7) requires them to make a motion for rfs--should I just
wait it out and see if they ultimately take the money upon discharge without
filing the motion, and then go after them for violation of the stay?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, 12th Floor
Woodland Hills, California 91364-2203
Telephone: (818) 226-1205
Facsimile: (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Wed, August 4, 2010 12:49:15 PM
Subject: RE: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed
553 allows the offset post petition, but it is subject to 362(a)(7). However th
CU may temporarily hide behind 542(b), per the Supremes. See Bank of Maryland,
116 SCt 286. They still must be bring the MFRS.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw. com
From:cdcbaa@yahoogroups. com [mailto:cdcbaa@ yahoogroups. com] On Behalf OfSteven B. Lever
Sent: Wednesday, August 04, 2010 9:28 AM
To: cdcbaa@yahoogroups. com
Subject: RE: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed
But the question was posed postpetition. How can they get around the automatic
stay? I dont see that in 550. Does the S.Ct. decision uphold postpetition?
From:cdcbaa@yahoogroups. com [mailto:cdcbaa@ yahoogroups. com] On Behalf Ofcaliforniadebtrelie fagency
Sent: Tuesday, August 03, 2010 11:59 PM
To: cdcbaa@yahoogroups. com
Subject: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed
Agree with Dennis. It's a permissible offset. There is a Supreme Court decision
upholding offsets. There is mutuality of obligation giving rise to the right of
offset.
Lou Esbin
>
> Look @ 550. Might be ok. Lisa, can you comment?
>
> Sent from my iPhone
>
> On Aug 3, 2010, at 9:52 AM, "Steven B. Lever" wrote:
>
> No. The automatic stay prevents it. Write them a letter that they have violated
>the automatic stay and give them a date certain to return the funds to the>account that is reasonable. If they do not, then bring a motion for violation.
>
>
>
Of
>Kenneth Schwartz
> Sent: Tuesday, August 03, 2010 7:37 AM
> To: cdcbaa@yahoogroups. com
> Subject: [cdcbaa] Offset by Credit Union After Chapter 7 is Filed
>
>
>
>
>
> Is a credit union entitled to exercise an offset after a Chapter 7 is filed? In
>this instance, it hit the Debtor's account approximately 10 days after the>filing.
>
Credit Union claims they put an "administrative freeze" on the account, and that without doing more, they will take the funds once the discharge is entered.I agree that 362(a)(7) requires them to make a motion for rfs--should I just wait it out and see if they ultimately take the money upon discharge without filing the motion, and then go after them for violation of the stay? Kenneth Jay Schwartz, Esq.LAW OFFICE OF KENNETH JAY SCHWARTZ21031 Ventura Boulevard, 12th FloorWoodland Hills, California 91364-2203Telephone: (818) 226-1205Facsimile: (818) 226-1213THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE
DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.From: Patrick Green <pat@fitzgreenlaw.com>To:
cdcbaa@yahoogroups.comSent: Wed, August 4, 2010 12:49:15 PMSubject: RE: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed

553 allows the offset post
petition, but it is subject to 362(a)(7). However th CU may temporarily
hide behind 542(b), per the Supremes. See Bank of Maryland, 116 SCt
286. They still must be bring the MFRS.

If you have any questions or
concerns, please contact me.

Pat

Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw. com

From:
cdcbaa@yahoogroups. com [mailto:cdcbaa@ yahoogroups. com] On Behalf Of Steven
B. Lever
Sent: Wednesday, August 04, 2010 9:28 AM
To: cdcbaa@yahoogroups. com
Subject: RE: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is
Filed

But the question was posed postpetition. How can
they get around the automatic stay? I dont see that in 550.
Does the S.Ct. decision uphold postpetition?

From:
cdcbaa@yahoogroups. com [mailto:cdcbaa@ yahoogroups. com] On Behalf Of californiadebtrelie fagency
Sent: Tuesday, August 03, 2010 11:59 PM
To: cdcbaa@yahoogroups. com
Subject: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed

Agree with Dennis. It's a permissible offset. There is a Supreme Court
decision upholding offsets. There is mutuality of obligation giving rise to the
right of offset.
Lou Esbin
et"_blank" href"mailto:cdcbaa%40yahoogroups.com">cdcbaa@yahoogroups. com,
Dennis <easky1@...> wrote:
>
> Look @ 550. Might be ok. Lisa, can you comment?
>
> Sent from my iPhone
>
> On Aug 3, 2010, at 9:52 AM, "Steven B. Lever"
<sblever@...> wrote:
>
> No. The automatic stay prevents it. Write them a letter that they have
violated the automatic stay and give them a date certain to return the funds to
the account that is reasonable. If they do not, then bring a motion for
violation.
>
>
>
target"_blank" href"mailto:cdcbaa%40yahoogroups.com">cdcbaa@yahoogroups. com
[mailto:cdcbaa@yahoogroups. com]
On Behalf Of Kenneth Schwartz
> Sent: Tuesday, August 03, 2010 7:37 AM
> To: cdcbaa@yahoogroups. com
> Subject: [cdcbaa] Offset by Credit Union After Chapter 7 is Filed
>
>
>
>
>
> Is a credit union entitled to exercise an offset after a Chapter 7 is
filed? In this instance, it hit the Debtor's account approximately 10 days
after the filing.
>

The post was migrated from Yahoo.

Yahoo Bot · Wed Aug 04, 2010 12:49 pm

553 allows the offset post petition, but it is subject to 362(a)(7).
However th CU may temporarily hide behind 542(b), per the Supremes. See
Bank of Maryland, 116 SCt 286. They still must be bring the MFRS.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com

The post was migrated from Yahoo.

Yahoo Bot · Wed Aug 04, 2010 9:45 am

Lou, does this apply to a post-petition offset as well?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, 12th Floor
Woodland Hills, California 91364-2203
Telephone: (818) 226-1205
Facsimile: (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Tue, August 3, 2010 11:58:43 PM
Subject: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed
Agree with Dennis. It's a permissible offset. There is a Supreme Court
decision upholding offsets. There is mutuality of obligation giving rise to the
right of offset.
Lou Esbin
>
> Look @ 550. Might be ok. Lisa, can you comment?
>
> Sent from my iPhone
>
> On Aug 3, 2010, at 9:52 AM, "Steven B. Lever" wrote:
>
> No. The automatic stay prevents it. Write them a letter that they have>violated the automatic stay and give them a date certain to return the funds to
>the account that is reasonable. If they do not, then bring a motion for>violation.
>
>
>
>Kenneth Schwartz
> Sent: Tuesday, August 03, 2010 7:37 AM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Offset by Credit Union After Chapter 7 is Filed
>
>
>
>
>
> Is a credit union entitled to exercise an offset after a Chapter 7 is filed? In
>this instance, it hit the Debtor's account approximately 10 days after the>filing.
>
Lou, does this apply to a post-petition offset as well? Kenneth Jay Schwartz, Esq.LAW OFFICE OF KENNETH JAY SCHWARTZ21031 Ventura Boulevard, 12th FloorWoodland Hills, California 91364-2203Telephone: (818) 226-1205Facsimile: (818) 226-1213THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW, DISSEMINATION, DISTRIBUTION OR
COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.From: californiadebtreliefagency <Esbinlaw@sbcglobal.net>To: cdcbaa@yahoogroups.comSent: Tue, August 3, 2010 11:58:43 PMSubject: [cdcbaa] Re: Offset by Credit Union After Chapter 7 is Filed

Agree with Dennis. It's a permissible offset. There is a Supreme Court decision upholding offsets. There is mutuality of obligation giving rise to the right of offset.
Lou Esbin
et"_blank" href"mailto:cdcbaa%40yahoogroups.com">cdcbaa@yahoogroups.com, Dennis <easky1@...> wrote:
>
> Look @ 550. Might be ok. Lisa, can you comment?
>
> Sent from my iPhone
>
> On Aug 3, 2010, at 9:52 AM, "Steven B. Lever" <sblever@...> wrote:
>
> No. The automatic stay prevents it. Write them a letter that they have violated the automatic stay and give them a date certain to return the funds to the account that is reasonable. If they do not, then bring a motion for violation.
>
>
>
target"_blank" href"mailto:cdcbaa%40yahoogroups.com">cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Kenneth Schwartz
> Sent: Tuesday, August 03, 2010 7:37 AM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Offset by Credit Union After Chapter 7 is Filed
>
>
>
>
>
> Is a credit union entitled to exercise an offset after a Chapter 7 is filed? In this instance, it hit the Debtor's account approximately 10 days after the filing.
>

The post was migrated from Yahoo.

Yahoo Bot · Wed Aug 04, 2010 9:28 am

But the question was posed postpetition. How can they get around the
automatic stay? I don't see that in 550. Does the S.Ct. decision
uphold postpetition?

The post was migrated from Yahoo.

Yahoo Bot · Tue Aug 03, 2010 11:58 pm

Agree with Dennis. It's a permissible offset. There is a Supreme Court decision upholding offsets. There is mutuality of obligation giving rise to the right of offset.
Lou Esbin
>
> Look @ 550. Might be ok. Lisa, can you comment?
>
> Sent from my iPhone
>
> On Aug 3, 2010, at 9:52 AM, "Steven B. Lever" wrote:
>
> No. The automatic stay prevents it. Write them a letter that they have violated the automatic stay and give them a date certain to return the funds to the account that is reasonable. If they do not, then bring a motion for violation.
>
>
>
Kenneth Schwartz
> Sent: Tuesday, August 03, 2010 7:37 AM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Offset by Credit Union After Chapter 7 is Filed
>
>
>
>
>
> Is a credit union entitled to exercise an offset after a Chapter 7 is filed? In this instance, it hit the Debtor's account approximately 10 days after the filing.
>

The post was migrated from Yahoo.

Yahoo Bot · Tue Aug 03, 2010 10:34 am

Look @ 550. Might be ok. Lisa, can you comment?
Sent from my iPhone
On Aug 3, 2010, at 9:52 AM, "Steven B. Lever" wrote:
No. The automatic stay prevents it. Write them a letter that they have violated the automatic stay and give them a date certain to return the funds to the account that is reasonable. If they do not, then bring a motion for violation.

The post was migrated from Yahoo.

Yahoo Bot · Tue Aug 03, 2010 9:52 am

No. The automatic stay prevents it. Write them a letter that they have
violated the automatic stay and give them a date certain to return the
funds to the account that is reasonable. If they do not, then bring a
motion for violation.

The post was migrated from Yahoo.

Yahoo Bot · Tue Aug 03, 2010 7:37 am

Is a credit union entitled to exercise an offset after a Chapter 7 is filed? In this instance, it hit the Debtor's account approximately 10 days after the filing.

The post was migrated from Yahoo.