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Determining debt amounts under 109(e)> >=
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Larry and I had a case where J. Thompson bifurcated a secured debt, I think
it was a car loan, and found the debtor ineligible for too much unsecured
debt.
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.
jonhayes6666
Sent: Wednesday, December 23, 2009 5:27 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Re: Determining debt amounts under 109(e)
Unfortunately, its not "our district." Its not even "our division." All we
know for sure is its our favorite judges in Woodland Hills. And there at
least, only totally unsecured secured creditors are unsecured for
eligibility purposes. And that is only Judge Tighe for sure. I believe that
Judges Mund and Thompson agree with Tighe. You have entered the "eligibility
zone."
Anybody know about any other judge for sure?
Brand" wrote:
>
> Lou,
>
>
>
> Sorry to bring up an old thread - but let me see if I understand this
> correctly. In our district:
>
>
>
> Partially undersecured first OR wholly undersecured first wholly secured
> for 109(e) evaluation purposes.
>
> Wholly undersecured third/second wholly undersecured for 109(e)
evaluation
> purposes.
>
>
>
>
>
> What about a partially undersecured second/third?
>
>
>
>
>
> Donny Brand
>
> Brand & Spellman PC
>
> 3836 E. Anaheim St.
>
> Long Beach, CA 90804
>
> 562-438-7500
>
> 888-99-BKRPT (888-992-5778)
>
>
www.brandspellman.com
>
>
>
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[mailto:cdcbaa@yahoogroups. com] On Behalf
Of
> californiadebtreliefagency
> Sent: Wednesday, November 25, 2009 8:58 PM
> To: cdcbaa@yahoogroups. com
> Subject: [cdcbaa] Re: Determining debt amounts under 109(e)
>
>
>
>
>
> Mark,
>
> In the Files section of this ListServ there is the Smith decision under
the
> 109(e) appeal. As well, there are the materials from a couple of years ago
> when Lee Raphael and I did the MCLE on Motions to Value. In this district,
> the partially undersecured first is treated as secured for the full amount
> of the indebtedness, even though the Schedules may reflect otherwise
> (another example of why Scovis is improperly applied to consensual liens).
> The wholly undersecured second or third, however, is treated as part of
the
> unsecured debt. There is a rogue ruling out of San Diego that bifurcates
the
> partially undersecured first into secured and unsecured, following to the
> letter the Scovis decision.
>
> Happy Thanksgiving to all.
>
> Lou Esbin
>
> --- In cdcbaa@yahoogroups. com
, "Mark J.
> Markus" wrote:
> >
> >
> > I can't keep straight what the current rule is for determining debt
> > amounts for 109(e) purposes (Ch. 13 eligibility).
> >
> > If a trust deed holder on real estate is partially unsecured based on
> > whatever valuation one uses, is only that secured portion used for the> > $1,010,000 limit for secured debt (and the remaining unsecured portion> > used for the unsecured limit)? Or, is the full amount of the lien
> > considered secured? I guess what I'm asking is, can a 506 motion be
> > used to establish 109(e) eligibility?
> >
> > Happy Thanksgiving everyone!
> >
> > *************************
> > 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.
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