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So my client faxes me all her signature pages and said sh=
Exemptions are not available for property which has been voluntarily
transferred. If the money is re-lent you have to now consider preference
issues - probably ok, as well as arguable bad faith.
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.
Holly Roark
Sent: Thursday, January 07, 2010 5:41 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] So my client faxes me all her signature pages and said she
is ready to file exce
So my client faxes me all her signature pages and said she is ready to file
except she has one small change: She cashed out her retirement to pay back
her boyfriend the money she owed him.
UGH!!!!!!!!!!!!!!
I have had an entire week of clients making financial moves without asking
me. I am about to hit the roof.
Can we undo this and exempt the funds under the wildcard? Luckily, she
actually has enough of the wildcard exemption to exempt these funds, but I
am wondering procedureally, if we can just simply undo this transaction
before filing? We can then list him as a creditor. Is there any problem with
undoing a preference and exempting the funds before filing?
Holly Roark
Central District of California
holly@roarklawoffic es.com
Message
Exemptions are notavailable for property which has been voluntarily transferred. If themoney is re-lent you have to now consider preference issues - probably ok, as
well as arguable bad faith.
David A.
Tilem
Certified Bankruptcy
Specialist*
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