FW: Another Means Test Question
Posted: Thu May 27, 2010 11:56 am
I believe "best efforts" was replace by therequirementto contributeACP * PDI (the Form B22C figure). If you get a PDI of $0nths of I - J, which is all gravey not a"best efforts' issue.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647
Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462
A-Bankruptcy-Attorney.com
Personal Financial Law Center II - Costa Mesa, CA
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________________________________
To: cdcbaa@yahoogroups.com
Sent: Thu, May 27, 2010 10:41:56 AM
Subject: RE: [cdcbaa] FW: Another Means Test Question
Peter Lively is the expert on this, but my understanding is that you are not required to have a 5 year plan and best efforts means best efforts. The plan must pay something for debtors to be C13 eligible.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale , CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
ication
f vicki temkin
Sent: Thursday, May 27, 2010 10:24 AM
To: cdcbaa@yahoogroups. com
Subject: Re: [cdcbaa] FW: Another Means Test Question
thanks david. i'll read the cases. i did look at lanning awhile ago, but will take another read.
i think my 4th question from last nt is this: both of my potential 13's are over median, but have a negative J after doing the means test. so B22C is giving me 0. how can this be remedied so the debtor's can do a 13 if need be? In all fairness to you, I haven't yet inputed the info into the Central Dist. Ch 13 plan (have to buy/download today) but in the ezfilng model ch 13 plan, it gives me 0 disposable income based on a negative J.
Vicki L. Temkin
Law Office of Vicki L. Temkin
15030 Ventura Blvd., Ste. 19-780
Sherman Oaks, Ca 91403
Ph:(818) 501-4658 /Fx:(818) 501-0903
>Subject: [cdcbaa] FW: Another Means Test Question
>To: cdcbaa@yahoogroups. com
>Date: Thursday, May 27, 2010, 10:05 AM
>
>
>And a further reply to the prior post:
>
>David A. Tilem
>Certified Bankruptcy Specialist*
>Law Offices of David A. Tilem (a debt relief agency)
>206 N. Jackson Street, #201, Glendale, CA 91206
>Tel: 818-507-6000 Fax: 818-507-6800
>
>* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
>Specialization.
> Business bankruptcy specialist cert. by Amer. Bd. of Certification
>
>
>
>
>Sent: Thursday, May 27, 2010 9:52 AM
>Subject: Re: Another Means Test Question
>
>
>If you have access to PLI's Bankruptcy Handbook (of which I am co-author),
>either for real or on line, look at 3:3.2[4] for the collected cases.
>It's a little out of date --- the supplement will be coming out later this
>month --- but it should help.
>
>Judge William C. Hillman
>U.S. Bankruptcy Court
>Boston, Massachusetts
>judge_william_ hillman@mab. uscourts. gov
>
>
>
>
>I had wanted to ask about the issue as to whether a vehicle that is being
>surrendered can still be claimed in a B22.
>
>Some 13 trustees, as well as US Trustees, argue that the secured claim
>should not be counted if the debtor is surrendering it, but I have not seen
>the rationale for this.
>
>I would argue that since we have to use this ridiculous form, then
>everything in the 6 months pre-petition period should count equally, whether
>it's pro or con. If a trustee can claim that old, no longer existent income
>should still require a higher plan payment, then why would an old, no longer
>existent debt not count as an offset? It should work both ways.
>
>Here, it would seem that the trustee is trying to alter it to his advantage,
>choosing to discount something that is favorable to the debtor.
>
>I think most of us agree that the Means Test is a game that plays both ways;
>unemployment before filing can make someone with a good job eligible for a 7
>(or a shorter commitment period in a 13), while a recently lost salary can
>keep someone out of Chapter 7 as "abusive." (I'm presently waiting until
>July to file a case because the debtor, unemployed since December, received
>a huge severance package in December that puts his average income above the
>threshold, even though he has very little income now and used up most or all
>of his severance already.)
>
>I've seen references to a few rulings here and there, but is this something
>that may vary by circuit? And how has this been justified?
>
>Thanks
>
>JG
>
>
>
>
>------------ --------- --------- ------
>
>Yahoo! Groups Links
>
>
>
>
I believe "best efforts" was replace by the requirement to contribute ACP * PDI (the Form B22C figure). If you get a PDI of $0 or less, there is no ACP, so as a practical matter you are at 36 months of I - J, which is all gravey not a "best efforts' issue. Peter M. Lively, JD/MBALaw Office of Peter M. Lively * Personal Financial Law Center I11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462 A-Bankruptcy-Attorney.comPersonal Financial Law Center II - Costa Mesa, CA
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
From: David A. Tilem <DavidTilem@TilemLaw.com>To: cdcbaa@yahoogroups.comSent: Thu, May 27, 2010 10:41:56 AMSubject: RE: [cdcbaa] FW: Another Means Test Question
Peter Lively is the expert on this, but my understanding is that you are not required to have a 5 year plan and best efforts means best efforts. The plan must pay something for debtors to be C13 eligible.
The post was migrated from Yahoo.