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Treatment of an impaired claim
Prop taxes. Pay 30 days after effective date will impair, but can't vote, so forgetaboutit.
IRS 5 years and one day violates the code cannot confirm.
D
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Jan 15, 2014, at 5:25 PM, Alik Segal wrote:
>
> Listmates,
>
>
> Chapter 11.
>
> Debtor owes property taxes. Tax collector is insisting on receiving its lawful interest rate--in this case 18%. How can a treatment be constructed so that the tax collector is receiving its lawful rate while the claim is impaired?
>
> Debtor owes priority IRS taxes. Would paying IRS in 5 y and 1 mo (instead of legally required 5 y) with the standard 3% qualify as a minor impairment that is likely to be acceptable to the IRS but also sufficient to entitle IRS to vote?
>
>
> Alik Segal
> Alik.Segal@gmail.com
> 310-362-6157
> California Central District
>
The post was migrated from Yahoo.
Since they are not receiving all that they would otherwise receive, such as
payment quickly with penalties, they are impaired. You cannot pay the IRS
over longer than 5 years from the petition date unless they agree.
However, county and IRS rarely vote anyway. I don't think I have been
able to convince them once yet for any of my last at least 20 confirmed
plans. If you can convince them, let me know, and congratulations.
Giovanni Orantes, Esq.
Certified Bankruptcy Specialist*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
Commercial Litigation
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Estate Planning
Since they are not receiving all that they would otherwise receive, such as payment quickly with penalties, they are impaired. You cannot pay the IRS over longer than 5 years from the petition date unless they agree. However, county and IRS rarely vote anyway. I don't think I have been able to convince them once yet for any of my last at least 20 confirmed plans. If you can convince them, let me know, and congratulations.
-- Giovanni Orantes, Esq.Certified Bankruptcy Specialist* Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362
Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.comCommercial Litigation*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of CertificationEstate Planning
The post was migrated from Yahoo.
Listmates,
Chapter 11.
Debtor owes property taxes. Tax collector is insisting on receiving its
lawful interest rate--in this case 18%. How can a treatment be constructed
so that the tax collector is receiving its lawful rate while the claim is
impaired?
Debtor owes priority IRS taxes. Would paying IRS in 5 y and 1 mo (instead
of legally required 5 y) with the standard 3% qualify as a minor impairment
that is likely to be acceptable to the IRS but also sufficient to entitle
IRS to vote?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Listmates,Chapter 11. Debtor owes property taxes. Tax collector is insisting on receiving its lawful interest rate--in this case 18%. How can a treatment be constructed so that the tax collector is receiving its lawful rate while the claim is impaired?
Debtor owes priority IRS taxes. Would paying IRS in 5 y and 1 mo (instead of legally required 5 y) with the standard 3% qualify as a minor impairment that is likely to be acceptable to the IRS but also sufficient to entitle IRS to vote?
Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
The post was migrated from Yahoo.