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Do you ever file personal chapter 7s for people who want to keep...
The case law on reasonably necessary is dismal. Just enough to keep you off of welfare.
I haven't done that search again for years, as the decisions give me a headache.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Oct 18, 2013, at 12:04 PM, "Hale Andrew Antico" wrote:
>
> Very helpful. Did your Westlaw search find anything in 704.140 to limit it to "reasonably necessary for the support?"
>
sam@southbaybk.com
> Sent: Friday, October 18, 2013 11:58 AM
> To: cdcbaa@yahoogroups.com
> Subject: RE: Re: [cdcbaa] Do you ever file personal chapter 7s for people who want to keep...
>
>
> Thanks Jason. Hale - here is section 703-140(b)(11)(D) effective January 1, 2013 per Westlaw:
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> (11) The debtor's right to receive, or property that is traceable to, any of the following:......
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> (D) A payment, not to exceed twenty-four thousand sixty dollars ($24,060), on account of personal bodily injury of the debtor or an individual of whom the debtor is a dependent.
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> Google may need to be updated!
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> ---In cdcbaa@yahoogroups.com, wrote:
>
> Interesting thread on California's constantly changing exemption laws.
> BTW yes I am saying that there is a world of difference between 704.140(a) for pending claims; and (b) (and c) for judgments, settlements, awards. (maybe ask a trustee for another viewpoint...)
> And no, no basis that I know of to exempt the property damage claim or recovery (unless maybe under the automobile exemption), and no wild card because you are using the 704s not the 703s.
> Jason
> --
> JASON WALLACH, ESQ.
> Gladstone Michel Weisberg Willner & Sloane, ALC
> 4551 Glencoe Avenue, Suite 300
> Marina del Rey CA 90292-7925
> Tel: (310) 821-9000
> Direct: (310) 775-8725
> Fax: (310) 775-8775
> Email: jwallach@ gladstonemichel.com
> www. gladstonemichel.com
>
>> On Oct 18, 2013, at 11:12 AM, Hale Andrew Antico wrote:
>>
>>
>> Sam,
>>
>> When I go to Google and put in "california ccp 703.140", I get a list that
>> includes:
>>
>> > http://codes.lp.findlaw.com/cacode/CCP/ ... 1/s703.140
>>
>> When I go to the relevant code sections, I see:
>>
>> 703.140(b)(11)(D)
>> A payment, not to exceed seventeen thousand four hundred twenty-five dollars
>> ($17,425), on account of personal bodily injury, not including pain and
>> suffering or compensation for actual pecuniary loss, of the debtor or an
>> individual of whom the debtor is a dependent.
>>
>> and
>>
>> 703.140(b)(11)(E)
>> A payment in compensation of loss of future earnings of the debtor or an
>> individual of whom the debtor is or was a dependent, to the extent
>> reasonably necessary for the support of the debtor and any dependent of the
>> debtor.
>>
>> Contrast this with (new search required):
>>
>> 704.140(a)
>> Except as provided in Article 5 (commencing with Section 708.410) of Chapter
>> 6, a cause of action for personal injury is exempt without making a claim.
>>
>> ...but see:
>>
>> 704.150(c)
>> Where an award of damages or a settlement arising out of the wrongful death
>> of the judgment debtor's spouse or a person on whom the judgment debtor or
>> the judgment debtor's spouse was dependent is payable periodically, the
>> amount of such a periodic payment that may be applied to the satisfaction of
>> a money judgment is the amount that may be withheld from a like amount of
>> earnings under Chapter 5 (commencing with Section 706.010) (Wage Garnishment
>> Law).
>>
>> I hope this helps.
>>
>> ________________________________
>>
f
>> sam@...
>> Sent: Friday, October 18, 2013 8:59 AM
>> To: cdcbaa@yahoogroups.com
>> Subject: RE: Re: [cdcbaa] Do you ever file personal chapter 7s for people
>> who want to keep...
>>
>> Hmmmm. Jason - I thought 704(b) limited the amount of the exemption to
>> that "reasonably necessary for the support of the Debtor". That is why I
>> went with 703 - which as you probably know was amended in April to delete
>> the "pain and suffering" exclusion. Are you saying that 704(a) is distinct
>> from 704(b) - that is, if the claim has not been reduced to judgment or
>> settlement as of the filing date, it is 100% exempt - no matter the amount
>> of the eventual award or settlement?
>>
>> ---In cdcbaa@yahoogroups.com, wrote:
>>
>> Does the 704.140 personal injury exemption include the property
>> damage portion arising from, for example, an automobile accident?
>>
>> And, if not, is there no way to exempt the property damage award
>> then if the 704 series is used?
>>
>> *************************
>> Mark J. Markus
>> Law Office of Mark J. Markus
>> 11684 Ventura Blvd. PMB #403
>> Studio City, CA 91604-2652
>> (818)509-1173 (818)509-1460 (fax)
>> web: http://www.bklaw.com/
>> This Firm is a Qualified Federal Debt Relief Agency (see what this means at
>> http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
>> ________________________________________________
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>
>
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Sam,
When I go to Google and put in "california ccp 703.140", I get a list that
includes:
> http://codes.lp.findlaw.com/cacode/CCP/ ... 1/s703.140
When I go to the relevant code sections, I see:
703.140(b)(11)(D)
A payment, not to exceed seventeen thousand four hundred twenty-five dollars
($17,425), on account of personal bodily injury, not including pain and
suffering or compensation for actual pecuniary loss, of the debtor or an
individual of whom the debtor is a dependent.
and
703.140(b)(11)(E)
A payment in compensation of loss of future earnings of the debtor or an
individual of whom the debtor is or was a dependent, to the extent
reasonably necessary for the support of the debtor and any dependent of the
debtor.
Contrast this with (new search required):
704.140(a)
Except as provided in Article 5 (commencing with Section 708.410) of Chapter
6, a cause of action for personal injury is exempt without making a claim.
...but see:
704.150(c)
Where an award of damages or a settlement arising out of the wrongful death
of the judgment debtor's spouse or a person on whom the judgment debtor or
the judgment debtor's spouse was dependent is payable periodically, the
amount of such a periodic payment that may be applied to the satisfaction of
a money judgment is the amount that may be withheld from a like amount of
earnings under Chapter 5 (commencing with Section 706.010) (Wage Garnishment
Law).
I hope this helps.
________________________________
The post was migrated from Yahoo.
Holly --
While I have filed a number of ch 7 cases for sole proprietors, there is no
general rule. It all depends on, among other things, the business, the
assets, the available exemptions and whether the earnings, postpetition, are
from personal services of the debtor, which would not be property of the
estate. Insurance may also be an issue with the Ch 7 trustee.
Also, a corp or LLC may allow a chapter 13 debtor to escape with a 3 yr
plan, whereas of 9th Cir case law that will almost always require a 5 yr plan.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, CA 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
Holly --
While I have filed a number of ch 7 cases for sole proprietors, there is no
general rule. It all depends on, among other things, the business,
the assets, the available exemptions and whether the earnings,
postpetition, are from personal services of the debtor, which would not beproperty of the estate. Insurance may also be an issue with the Ch 7trustee.
Also, a corp or LLC may allow a chapter 13 debtor to escape with a 3
yr plan, whereas of 9th Cir case law that will almost always require a 5 yr
plan.
Law Office of
Eric Alan Mitnick21515 Hawthorne Boulevard, Ste. 1080Torrance, CA
90503(310) 792-5864; 792-5866
The post was migrated from Yahoo.