Question on CCP 704.070 -- 75% of what amount?
Posted: Mon Mar 24, 2014 3:46 pm
Nothing came of it. The Trustee elected not to file an objection to the
claim of exemption and the case proceeded to discharge.
Clifford Bordeaux
Bordeaux Law, P.C.
3731 Wilshire Boulevard, Suite 600
Los Angeles, CA 90010
T: 323-762-5529
T: 626-405-2345
F: 626-628-1820
E: cliff@bordeauxlaw.com
On Mon, Mar 24, 2014 at 12:06 PM, Larry Webb wrote:
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> Cliff,
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> How did the challenge on this 704.070 question work out?
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> Best regards
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> Larry Webb
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> State Bar of California 229344
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> Central District California
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> "A Debt Relief Agency"
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> Check out my Blog
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> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *clifford_bordeaux
> *Sent:* Tuesday, April 02, 2013 6:28 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Question on CCP 704.070 -- 75% of what amount?
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> CCP 704.070 provides that:
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> "(b) Paid earnings that can be traced into deposit accounts or in
> the form of cash or its equivalent as provided in Section 703.080 are
> exempt in the following amounts:
> ...
> (2) Seventy-five percent of the paid earnings that are levied upon
> or otherwise sought to be subjected to the enforcement of a money
> judgment are exempt if prior to payment to the employee they were not
> subject to an earnings withholding order or an earnings assignment
> order for support."
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> Question: If debtor had paid earnings of $4,000 within the thirty days
> prior to filing bankruptcy, but only has $1,000 left in the account when
> the bankruptcy case is filed, is the remaining money fully exempt (because
> 75% of $4,000 is $3,000 and debtor only has $1000 left to exempt)? Or is
> only $750 exempt (75% of the $1000 that remained as of the petition date)?
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> I have always assumed that debtor would be able to exempt the full $1000
> in this example, but I am being challenged on this. Surprisingly, I can't
> find a case directly on point, so I am interested to know if anyone has
> faced this issue.
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Nothing came of it. The Trustee elected not to file an objection to the claim of exemption and the case proceeded to discharge.Clifford Bordeaux
Bordeaux Law, P.C.3731 Wilshire Boulevard, Suite 600Los Angeles, CA 90010T: 323-762-5529T: 626-405-2345
F: 626-628-1820 E: cliff@bordeauxlaw.com
On Mon, Mar 24, 2014 at 12:06 PM, Larry Webb <larry@webbklaw.com> wrote:
Cliff,
How did the challenge on this 704.070 question work out?
Best regards
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