Do you ever file personal chapter 7s for people who want to keep...
Posted: Fri Oct 18, 2013 6:10 pm
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:
>
>
>
> (11) The debtor's right to receive, or property that is traceable to, any of the following:......
>
>
>
> (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.
>
>
>
> Google may need to be updated!
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> ---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/)
>> ________________________________________________
>> NOTICE: This Electronic Message contains information from the law office of
>> Mark J. Markus that may be privileged. The information is intended for the
>> use of the addressee only. If you are not the addressee, note that any
>> disclosure, copy, distribution or use of the contents of this message is
>> prohibited.
>> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
>> the IRS, we inform you that any U.S. tax advice contained in this
>> communication (or in any attachment) is not intended or written 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 in this communication.
>
>
The post was migrated from Yahoo.