Central District Consumer Bankruptcy Attorney's Association

I like your P&A's. The point is though, you need to claim at least 1 penny,
you can't claim $0 exemption -- or do you think you can?
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Thu, Jul 25, 2013 at 1:04 PM, Nicholas Gebelt wrote:
> **
>
> [Attachment(s) from Nicholas Gebelt included
> below]
>
> Dear Sam,****
>
> ** **
>
> You may wish to ask for a reconsideration of your motion. Include a brief
> that discusses *In re Higgins*, 201 B.R. 965 (B.A.P. 9th Cir. 1996) and
> walk Judge Brand through the application of formula given in 522(f)(2)(A)
> to your clients case:****
>
> ** **
>
> For the purposes of this subsection, a lien shall be considered to impair
> an exemption to the extent that the sum of ****
>
> (i) the lien; ****
>
> (ii) all other liens on the property; and ****
>
> (iii) the amount of the exemption that the debtor could claim if there
> were no liens on the property****
>
> ** **
>
> I have attached the Memorandum of Points and Authorities I successfully
> used in a recent case before Judge Bluebond in which the debtors house was
> underwater.****
>
> ** **
>
> Good luck,****
>
> ** **
>
> Nick****
>
> ** **
>
> *Nicholas Gebelt*
>
> ** **
>
> Nicholas Gebelt, Ph.D., J.D.****
>
> Attorney at Law****
>
> Certified Bankruptcy Law Specialist****
>
> ** **
>
> [image: Description: Description: Description:
> cid:image003.jpg@01CC076B.B14D73C0]****
>
> ** **
>
> Law Offices of Nicholas Gebelt****
>
> 15150 Hornell Street****
>
> Whittier, CA 90604****
>
> Phone: 562.777.9159****
>
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>
> Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com****
>
> Web: www.goodbye2debt.com****
>
> Blog: www.southerncaliforniabankruptcylawblog.com/****
>
> ** **
>
> *Important notice required by 11 U.S.C. 528:* We are a debt relief
> agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *sambenevento
> *Sent:* Thursday, July 25, 2013 12:29 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Re: 522(f) denied where property underwater****
>
> ** **
>
> ****
>
> If I claim a penny of exemption, doesn't that defeat my Motion to Avoid
> Junior Mortgage??
>
> --- In cdcbaa@yahoogroups.com, jesseelaw@... wrote:
> >
> > You need to claim an actual amount as exempt. Amend Schedule C and claim
> > a penny of the wild card and then refile your 522(f) motion.
> >
> > Mark T. Jessee
> > Law Offices of Mark T. Jessee
> > "A Debt Relief Agency"
> > 50 W. Hillcrest Drive, Suite 200
> > Thousand Oaks, CA 91360
> > (805) 497-5868 (805) 497-5864 (Facsimile)
> >
> >
> >
> > In a message dated 7/25/2013 11:29:43 A.M. Pacific Daylight Time,
> > sam@... writes:
> >
> >
> >
> >
> > I just had Judge Brand deny a 522(f) motion to avoid judicial lien in a
> > Chapter 13 case because the property is underwater. I did claim the
> homestead
> > exemption - but had to value it at zero (we are also avoiding a Junior
> > Mortgage on the property). The Court says that the lien does not impair
> the
> > homestead exemption since the claimed exemption is zero. Is Higgins
> still good
> > law? What am I missing? Any thoughts or comments? I was considering a
> > Motion to Value and then treating the judgment as unsecured, but it does
> not
> > solve the chain of title problem created when the abstract of judgment
> was
> > recorded.
> >****
>
> ****
>
>
>
I like your P&A's. The point is though, you need to claim at least 1 penny, you can't claim $0 exemption -- or do you think you can?
The post was migrated from Yahoo.