.jpg)
arguments for quick entry of discharge in confirmed
Dear Kirk,
I don't see a problem with your strategy if you can do the refinancing. You would use 1127(e) - the refinancing implicates 1127(e)(2) and (3) - coupled with 1141(d)(5)(A) to get the discharge.
However, since in your scenario the debtor has already paid the unsecured creditors the amount they would have received in a Chapter 7 liquidation, and since there is no requirement in 1141(d)(5)(B) that all secured debt payments have been made, you might be able to use 1141(d)(5)(B) without doing the refinancing. This approach would avoid any potential problem if the debtor were unable to refinance. The only real hurdle would be establishing the impracticability of plan modification under 1127.
All the best,
Nick
Nicholas Gebelt, Ph.D., J.D.
Board Certified Bankruptcy Specialist
[Description: cid:image003.jpg@01CC076B.B14D73C0]
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com
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Nick,
Assuming a judge rules that all payments have to be made under the plan
prior to discharge (including 30 years of mortgage payments), what do you
think of the strategy of (after 5 years of payments to unsecured creditors)
refinancing the mortgage so that there are no more payments left to be made
to the mortgage lender, then moving for discharge?
On Tue, Sep 4, 2012 at 1:05 PM, Nicholas Gebelt wrote:
> **
>
>
> Dear Giovanni,****
>
> ** **
>
> If the debtor has no nonexempt assets, you might be able to appeal to
> 1141(d)(5)(B), but Judge Kwan will undoubtedly require the notice and a
> hearing stated in the statute. If the hearing coming up in less than an
> hour is that requisite hearing, and his tentative denied your
> 1141(d)(5)(B) motion, your brief must not have convinced him. However, if
> it isnt the necessary hearing, you may be able to get him to let you brief
> the question and set it for a future hearing. Its worth asking for the
> chance to brief the question.****
>
> ** **
>
> Nick****
>
> ** **
>
> Nicholas Gebelt, Ph.D., J.D.****
>
> Board Certified Bankruptcy Specialist****
>
> ** **
>
> [image: Description: cid:image003.jpg@01CC076B.B14D73C0]****
>
> ** **
>
> Law Offices of Nicholas Gebelt****
>
> 15150 Hornell Street****
>
> Whittier, CA 90604****
>
> Phone: 562.777.9159****
>
> FAX: 562.946.1365****
>
> Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com****
>
> Web: www.goodbye2debt.com****
>
> Blog: www.southerncaliforniabankruptcylawblog.com/****
>
> ** **
>
> *We are a debt relief agency. We help people file for bankruptcy relief
> under the Bankruptcy Code.*
>
> ** **
>
> *Confidentiality Note*: This e-mail is intended only for the person or
> entity to which it is addressed and may contain information that is
> privileged, confidential, or otherwise protected from disclosure.
> Dissemination, distribution, or copying of this e-mail or the information
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> prohibited. If you have received this e-mail in error, please notify us
> immediately at 562.777.9159 or e-mail info@gebeltlaw.com and destroy the
> original message and all copies.****
>
> ** **
>
> *Representation Note*: If you have not signed a contract of
> representation, the Law Offices of Nicholas Gebelt do not represent you,
> and this email does not contain any legal advice for you.****
>
> ** **
>
> *IRS Circular 230 Disclosure: *In order to comply with the requirements
> imposed by the Internal Revenue Service, we inform you that any U.S. tax
> advice contained in this communication (including any attachments) is not
> intended 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 herein.*
> ***
>
> ** **
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Giovanni Orantes
> *Sent:* Tuesday, September 04, 2012 12:54 PM
> *To:* cdcbaa@yahoogroups.com
> *Cc:* ngebelt@goodbye2debt.com
> *Subject:* Re: [cdcbaa] arguments for quick entry of discharge in
> confirmed individual 11****
>
> ** **
>
> ****
>
> Exactly. That is what I'm trying to defeat. I've done it with other
> judges using 1141(d)(5)(B), but I was wondering if anybody has tried that
> with Judge Kwan. Also, when you have, for example, a 5 year term to pay
> unsecureds but modified secured claims to extend them over 30 years, does
> he think the plan is 5 years or 30 years?****
>
> On Tue, Sep 4, 2012 at 12:48 PM, Nicholas Gebelt
> wrote:****
>
> ****
>
> Dear Giovanni,****
>
> ****
>
> I may be missing something in your question, but in an individual Chapter
> 11 1141(d)(5)(A) applies:****
>
> ****
>
> In a case in which the debtor is an individual unless after notice and a
> hearing the court orders otherwise for cause, *confirmation of the plan
> does not discharge any debt* provided for in the plan *until the court
> grants a discharge on completion of all payments under the plan*.****
>
> ****
>
> I suspect that it is this statutory provision that Judge Kwan has in mind.
> ****
>
> ****
>
> Good luck,****
>
> ****
>
> Nick****
>
> ****
>
> Nicholas Gebelt, Ph.D., J.D.****
>
> Board Certified Bankruptcy Specialist****
>
> ****
>
> [image: Description: cid:image003.jpg@01CC076B.B14D73C0]****
>
> ****
>
> Law Offices of Nicholas Gebelt****
>
> 15150 Hornell Street****
>
> Whittier, CA 90604****
>
> Phone: 562.777.9159****
>
> FAX: 562.946.1365****
>
> Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com****
>
> Web: www.goodbye2debt.com****
>
> Blog: www.southerncaliforniabankruptcylawblog.com/****
>
> ****
>
> *We are a debt relief agency. We help people file for bankruptcy relief
> under the Bankruptcy Code.*****
>
> ****
>
> *Confidentiality Note*: This e-mail is intended only for the person or
> entity to which it is addressed and may contain information that is
> privileged, confidential, or otherwise protected from disclosure.
> Dissemination, distribution, or copying of this e-mail or the information
> herein by anyone other than the intended recipient, or an employee or agent
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> prohibited. If you have received this e-mail in error, please notify us
> immediately at 562.777.9159 or e-mail info@gebeltlaw.com and destroy the
> original message and all copies.****
>
> ****
>
> *Representation Note*: If you have not signed a contract of
> representation, the Law Offices of Nicholas Gebelt do not represent you,
> and this email does not contain any legal advice for you.****
>
> ****
>
> *IRS Circular 230 Disclosure: *In order to comply with the requirements
> imposed by the Internal Revenue Service, we inform you that any U.S. tax
> advice contained in this communication (including any attachments) is not
> intended 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 herein.*
> ***
>
> ****
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Giovanni Orantes
> *Sent:* Tuesday, September 04, 2012 12:33 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] arguments for quick entry of discharge in confirmed
> individual 11****
>
> ****
>
> ****
>
> I'm in front of Judge Kwan in a bit over an hour and was wondering if
> anybody can give me some pearls of wisdom to argue to him to change his
> mind regarding entry of discharge in an individual 11 soon after payments
> commence. If you know what he considers to be the law and why, that would
> be helpful too.
>
> --
> Giovanni Orantes, Esq.
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 1980
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com ** **
>
>
>
>
> --
> Giovanni Orantes, Esq.
>
> ****
>
> ****
>
>
>
Kirk Brennan, esq.
California Law Office, P.C.
www.calibankruptcysite.com
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letters containing the signature of a director.
Nick,Assuming a judge rules that all payments have to be made under the plan prior to discharge (including 30 years of mortgage payments), what do you think of the strategy of (after 5 years of payments to unsecured creditors) refinancing the mortgage so that there are no more payments left to be made to the mortgage lender, then moving for discharge?
On Tue, Sep 4, 2012 at 1:05 PM, Nicholas Gebelt <ngebelt@gebeltlaw.com> wrote:
Dear Giovanni,
If the debtor has no nonexempt assets, you might be able to appeal to 1141(d)(5)(B), but Judge Kwan will undoubtedly require the notice and a hearing stated
in the statute. If the hearing coming up in less than an hour is that requisite hearing, and his tentative denied your 1141(d)(5)(B) motion, your brief must not have convinced him. However, if it isnt the necessary hearing, you may be able to get him
to let you brief the question and set it for a future hearing. Its worth asking for the chance to brief the question.
Nick
Nicholas Gebelt, Ph.D., J.D.
The post was migrated from Yahoo.
Dear Giovanni,
If the debtor has no nonexempt assets, you might be able to appeal to 1141(d)(5)(B), but Judge Kwan will undoubtedly require the "notice and a hearing" stated in the statute. If the hearing coming up in less than an hour is that requisite hearing, and his tentative denied your 1141(d)(5)(B) motion, your brief must not have convinced him. However, if it isn't the necessary hearing, you may be able to get him to let you brief the question and set it for a future hearing. It's worth asking for the chance to brief the question.
Nick
Nicholas Gebelt, Ph.D., J.D.
Board Certified Bankruptcy Specialist
[Description: cid:image003.jpg@01CC076B.B14D73C0]
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com
Web: www.goodbye2debt.com
Blog: www.southerncaliforniabankruptcylawblog.com/
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Confidentiality Note: This e-mail is intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this e-mail or the information herein by anyone other than the intended recipient, or an employee or agent responsible for delivering the message to the intended recipient, is prohibited. If you have received this e-mail in error, please notify us immediately at 562.777.9159 or e-mail info@gebeltlaw.com and destroy the original message and all copies.
Representation Note: If you have not signed a contract of representation, the Law Offices of Nicholas Gebelt do not represent you, and this email does not contain any legal advice for you.
IRS Circular 230 Disclosure: In order to comply with the requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended 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 herein.
The post was migrated from Yahoo.
Exactly. That is what I'm trying to defeat. I've done it with other
judges using 1141(d)(5)(B), but I was wondering if anybody has tried that
with Judge Kwan. Also, when you have, for example, a 5 year term to pay
unsecureds but modified secured claims to extend them over 30 years, does
he think the plan is 5 years or 30 years?
On Tue, Sep 4, 2012 at 12:48 PM, Nicholas Gebelt wrote:
> **
>
>
> Dear Giovanni,****
>
> ** **
>
> I may be missing something in your question, but in an individual Chapter
> 11 1141(d)(5)(A) applies:****
>
> ** **
>
> In a case in which the debtor is an individual unless after notice and a
> hearing the court orders otherwise for cause, *confirmation of the plan
> does not discharge any debt* provided for in the plan *until the court
> grants a discharge on completion of all payments under the plan*.****
>
> ** **
>
> I suspect that it is this statutory provision that Judge Kwan has in mind.
> ****
>
> ** **
>
> Good luck,****
>
> ** **
>
> Nick****
>
> ** **
>
> Nicholas Gebelt, Ph.D., J.D.****
>
> Board Certified Bankruptcy Specialist****
>
> ** **
>
> [image: Description: cid:image003.jpg@01CC076B.B14D73C0]****
>
> ** **
>
> Law Offices of Nicholas Gebelt****
>
> 15150 Hornell Street****
>
> Whittier, CA 90604****
>
> Phone: 562.777.9159****
>
> FAX: 562.946.1365****
>
> Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com****
>
> Web: www.goodbye2debt.com****
>
> Blog: www.southerncaliforniabankruptcylawblog.com/****
>
> ** **
>
> *We are a debt relief agency. We help people file for bankruptcy relief
> under the Bankruptcy Code.*
>
> ** **
>
> *Confidentiality Note*: This e-mail is intended only for the person or
> entity to which it is addressed and may contain information that is
> privileged, confidential, or otherwise protected from disclosure.
> Dissemination, distribution, or copying of this e-mail or the information
> herein by anyone other than the intended recipient, or an employee or agent
> responsible for delivering the message to the intended recipient, is
> prohibited. If you have received this e-mail in error, please notify us
> immediately at 562.777.9159 or e-mail info@gebeltlaw.com and destroy the
> original message and all copies.****
>
> ** **
>
> *Representation Note*: If you have not signed a contract of
> representation, the Law Offices of Nicholas Gebelt do not represent you,
> and this email does not contain any legal advice for you.****
>
> ** **
>
> *IRS Circular 230 Disclosure: *In order to comply with the requirements
> imposed by the Internal Revenue Service, we inform you that any U.S. tax
> advice contained in this communication (including any attachments) is not
> intended 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 herein.*
> ***
>
> ** **
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Giovanni Orantes
> *Sent:* Tuesday, September 04, 2012 12:33 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] arguments for quick entry of discharge in confirmed
> individual 11****
>
> ** **
>
> ****
>
> I'm in front of Judge Kwan in a bit over an hour and was wondering if
> anybody can give me some pearls of wisdom to argue to him to change his
> mind regarding entry of discharge in an individual 11 soon after payments
> commence. If you know what he considers to be the law and why, that would
> be helpful too.
>
> --
> Giovanni Orantes, Esq.
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 1980
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com ** **
>
> ****
>
>
>
Giovanni Orantes, Esq.
The post was migrated from Yahoo.
Dear Giovanni,
I may be missing something in your question, but in an individual Chapter 11 1141(d)(5)(A) applies:
In a case in which the debtor is an individual - unless after notice and a hearing the court orders otherwise for cause, confirmation of the plan does not discharge any debt provided for in the plan until the court grants a discharge on completion of all payments under the plan.
I suspect that it is this statutory provision that Judge Kwan has in mind.
Good luck,
Nick
Nicholas Gebelt, Ph.D., J.D.
Board Certified Bankruptcy Specialist
[Description: cid:image003.jpg@01CC076B.B14D73C0]
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com
Web: www.goodbye2debt.com
Blog: www.southerncaliforniabankruptcylawblog.com/
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Confidentiality Note: This e-mail is intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this e-mail or the information herein by anyone other than the intended recipient, or an employee or agent responsible for delivering the message to the intended recipient, is prohibited. If you have received this e-mail in error, please notify us immediately at 562.777.9159 or e-mail info@gebeltlaw.com and destroy the original message and all copies.
Representation Note: If you have not signed a contract of representation, the Law Offices of Nicholas Gebelt do not represent you, and this email does not contain any legal advice for you.
IRS Circular 230 Disclosure: In order to comply with the requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended 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 herein.
The post was migrated from Yahoo.