Central District Consumer Bankruptcy Attorney's Association

Consider a written proof to the bank. Keep us informed of your progress.
Good Luck starts with a strategy and a plan. The time is now to lower 2012taxes.
Robert J. Suhajda, MS,CPA
17721 Norwalk Blvd. #43
Artesia, CA 90701
562-924-8922
Tax Relief Lawyer.
In a message dated 2/27/2013 11:12:25 A.M. Pacific Standard Time,
petermlively2000@yahoo.com writes:
I think that 553 and 362(b)(3) protect the bank if the bank has a securityinterest in the bank account under contract with the debtor for the
business line of credit.
Most business lines of credit require the establishment of a bank accountand provide for a security interest in fund deposited into that account.
Peter M. Lively, J.D., M.B.A.
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

The post was migrated from Yahoo.

I think that 553and 362(b)(3) protect the bank if the bank has a security interest in the bank account under contract with the debtor for the business line of credit.
Most business lines of credit require the establishment of a bank account and provide for a security interest in funddeposited into that account.
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
________________________________
To: cdcbaa@yahoogroups.com
Sent: Wednesday, February 27, 2013 10:25 AM
Subject: [cdcbaa] Re: Seizure of traceable community funds
Additional note: I called it "support" but debtor and spouse still married and reside together part-time. No intent to divorce or separate.
>
> Debtor is in a confirmed 13 (100% plan). Has been sending traceable non-court ordered support to non-filer spouse, who deposits funds with Wells Fargo. Wife is also guarantor of a defaulted business line of credit with Wells Fargo for a business she started. Husband's plan was to pay this debt in full through his plan. Wells Fargo refuses to file POC and instead seizes funds held in wife's account at Wells Fargo. Since funds are traceable, aren't funds property of the estate? If yes, isn't this a stay violation? If no, any possible recourse for debtor and/or spouse? They need at least some of these funds back in the short term in order to live.
>

The post was migrated from Yahoo.

Additional note: I called it "support" but debtor and spouse still married and reside together part-time. No intent to divorce or separate.
>
> Debtor is in a confirmed 13 (100% plan). Has been sending traceable non-court ordered support to non-filer spouse, who deposits funds with Wells Fargo. Wife is also guarantor of a defaulted business line of credit with Wells Fargo for a business she started. Husband's plan was to pay this debt in full through his plan. Wells Fargo refuses to file POC and instead seizes funds held in wife's account at Wells Fargo. Since funds are traceable, aren't funds property of the estate? If yes, isn't this a stay violation? If no, any possible recourse for debtor and/or spouse? They need at least some of these funds back in the short term in order to live.
>

The post was migrated from Yahoo.

Debtor is in a confirmed 13 (100% plan). Has been sending traceable non-court ordered support to non-filer spouse, who deposits funds with Wells Fargo. Wife is also guarantor of a defaulted business line of credit with Wells Fargo for a business she started. Husband's plan was to pay this debt in full through his plan. Wells Fargo refuses to file POC and instead seizes funds held in wife's account at Wells Fargo. Since funds are traceable, aren't funds property of the estate? If yes, isn't this a stay violation? If no, any possible recourse for debtor and/or spouse? They need at least some of these funds back in the short term in order to live.

The post was migrated from Yahoo.