All that is well taken, but if the economy bounces back and the property is
worth more down the line, isn't the bank more motivated to fight the APs?
At this point, I haven't gotten any resistance on valuation in Chapter 13
cases (even in a case in which the difference between the balance on the
first and the property value was only about $5,000 and balance of the
second was over $200,000), but if the banks start resisting and propounding
discovery, etc., like they are starting to do in some of my Chapter 11
cases, the adversary proceeding will get very expensive. I would rather get
the AP done asap even if they are twice as much work as a straight 506
motion.
On Mon, Apr 11, 2011 at 3:08 PM, P L wrote:
>
>
> The argument is that the 506(a) motion is a rather nominal and not
> avoidable (no pun intended) cost in the ultimatle goal of 506(d) lien
> avoidance. The AP cost and be postponed and the burden on the court avoided
> entirely in some cases, for a nominal additional costs of a separate AP for
> the 506(d) leg. If the case makes it past the mid-point, then there is
> plenty of room for SFA and by then, there may be less burden on the court
> calendar.
>
>
> Peter M. Lively, JD, MBA
>
> *The Personal Financial Law Center * *Culver City & Costa Mesa *
> 800-307-DEBT
>
>
Giovanni Orantes, Esq.
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail:
go@gobklaw.com
website:
www.gobklaw.com
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA.
Note: The information contained in this e-mail message is confidential
information intended only for the use of the individual or entity named. If
the reader of this message is not the intended recipient or an agent
responsible for delivering it to the intended recipient, you are hereby
notified that any dissemination, distribution or copy of this communication
is strictly prohibited. If you have received this communication in error,
please immediately notify us by telephone or e-mail and delete the original
e-mail at (213) 389-4362 or (888) 619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements imposed by
the Internal Revenue Service, we inform you that any U.S. tax advice
contained in this communication (including any attachments) is not intended
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 herein.
All that is well taken, but if the economy bounces back and the property is worth more down the line, isn't the bank more motivated to fight the APs? At this point, I haven't gotten any resistance on valuation in Chapter 13 cases (even in a case in which the difference between the balance on the first and the property value was only about $5,000 and balance of the second was over $200,000), but if the banks start resisting and propounding discovery, etc., like they are starting to do in some of my Chapter 11 cases, the adversary proceedingwill get very expensive. I would rather get the AP done asap even if they are twice as much work as a straight 506 motion.
On Mon, Apr 11, 2011 at 3:08 PM, P L
The post was migrated from Yahoo.