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Retirement account loan collection in spite of automatic
Dear Matthew,
11 U.S.C. 362(b) provides many exceptions to the automatic stay. See e.
All the best,
Nick
Nicholas Gebelt, Ph.D., J.D.
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com
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----- Original Message -----
To: bk@nacba.org ; cdcbaa@yahoogroups.com
Sent: Tuesday, January 05, 2010 6:27 PM
Subject: [cdcbaa] Retirement account loan collection in spite of automatic stay
Client took out a loan against her retirement account before filing and was making repayments via automatic payroll deduction. Client then filed C7. Client received a letter from her retirement plan administrator stating that the automatic stay did not apply to her plan. Client received her 1/4/10 paycheck with loan deduction made.
I thought the automatic stay applied to everyone, including the retirement plan administrator. Am I wrong? If not, can someone suggest how should I proceed/respond to creditor?
Thanks.
____________________________________
Law Office of Matthew Gary Evans
Matthew Gary Evans, Esq.
16 North Marengo Avenue, Room 219
Pasadena, California 91101
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Email: matthew@matthewgaryevanslaw.com
www.matthewgaryevanslaw.com
www.matthewgaryevanslaw.net/Bankruptcy
please visit my blog at matthewevanslaw.wordpress.com
Member: California State Bar, American Bar Association, Consumer Attorneys Association of Los Angeles, Central District Consumer Bankruptcy Attorneys Association, National Association of Consumer Bankruptcy Attorneys, Pasadena Chamber of Commerce
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