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Can the debtor borrow against the bonus now and legitimately use the funds (pre-bk planning)?
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Wed Jul 26 2017 18:37:24 GMT-0700 (Pacific Daylight Time), Holly Roark hollyroark22@gmail.com [cdcbaa] wrote:
Debtor expects a $5K sign on bonus in September. Wants to file CH 7 to stop lawsuit now. (Yes, she can file an Answer in state court and stop the lawsuit, BUT, there are other issues, and that's not my question, but thanks for that advice
haha.Is an expected $5K sign on bonus an asset or income? We have to use the homestead under 704 so is there any exemption I can use for this, like the 75% of income in 704.070?
This is in Riverside.
Thank you.
Holly RoarkCertified Bankruptcy Specialist*
and Sports Lawyer
holly@roarklawoffices.com**primary email address**www.roarklawoffices.comCentral District of California & District of Idaho - Consumer Bankruptcy Attorney1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of LegalSpecialization
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