If you cannot exempt it all and the IRS has a claim against your client be sure
and file a claim on their behalf so if the Trustee does have assets to
distribute your client will have the non-dis chargeable debts paid. As theattorney you can file a proof of claim on behalf of the creditor.
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________________________________
To:
cdcbaa@yahoogroups.com
Sent: Tue, October 19, 2010 3:25:04 PM
Subject: Re: [cdcbaa] exempting restitution award
It's at least in part for medical expenses, but also for lost wages. However, he owes IRS debt in excess of the restitution amount and they
have a lien, so this may all be a moot point since the IRS would likely
seek to be paid from the restitution award, although that may be more of a
bargaining chip later if we discharge some of the taxes (as non-priority
debt)
*************************
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)
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On 10/12/2010 4:22 PM, Larry Simons wrote:
Mark,
>
>The 704 section for personal injury only covers >actual injury and not pain and suffering or loss of
>wages. It would depend on what the restitution
>award was meant to cover. Medical expenses, >physical therapy?
>
>
>Larry
>
>
________________________________
>From:
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com ] On >Behalf Of Mark J. Markus
>Sent: Tuesday, October 12, 2010 4:04 PM
>To:
cdcbaa@yahoogroups.com
>Subject: [cdcbaa] exempting restitution award
>
>
>Just seeing if I'm missing any available>exemption here:
>
>Client received an award for personal injuries
>sustained in an
>
>accident several years ago. Additionally, a
>criminal proceeding was
>
>brought and the court awarded restitution in
>favor of client of
>
>$175,000. Whether it ever gets paid is another
>story altogether,
>
>but I assume I cannot use the 704 personal
>injury exemption on the
>
>restitution portion, so is there any other
>exemption I may be
>
>overlooking, or does client simply lose the
>restitution if he files
>
>a Chapter 7?
>
>*************************
>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
The post was migrated from Yahoo.