Southern California Bankruptcy Law Blog

Monthly Archives: July 2014

Fair Debt Collection Practices Act And Bankruptcy

Posted in Chapter 11, Chapter 13, Chapter 7

A very recent Eleventh Circuit decision, Crawford v. LVNV Funding, LLC, No. 13-12389 (11th Cir., July 10, 2014), highlights an interesting split among the circuits, which makes things ripe for an appeal to the Supremes. First let’s get a little background. BACKGROUND I.                The Automatic Stay And The Discharge Injunction When a person files for… Continue Reading

Comment On Liz Weston’s Column: Chapter 13 Bankruptcy Is An Option

Posted in Chapter 11, Chapter 11 for Individuals & Married Couples, Chapter 13, Chapter 7

Last Sunday, July 20, 2014, Liz Weston of the L.A. Times gave an interesting answer to a question posed by a reader of the newspaper’s Money Talk feature.  Today’s post adds to Liz’s advice. The reader had accumulated $28,000 in credit card debt over the previous eight years, and had considerable law school debt and… Continue Reading

Tolling A Statute Of Limitations In Bankruptcy

Posted in Chapter 11, Chapter 11 for Individuals & Married Couples, Chapter 7

I recently had an email exchange regarding statute of limitations tolling in bankruptcy, with a friend who is a fellow bankruptcy attorney.  My friend posed a couple of questions based on an interesting fact pattern.  Herewith I offer a slightly edited version of the exchange. First, here is my friend’s email: Salient Facts:   Chapter 7… Continue Reading

Disclaiming An Inheritance

Posted in Chapter 13

If you become entitled to receive an inheritance during the pendency of your Chapter 13 bankruptcy, can you disclaim all or part of it?  That was the subject of a few questions that a fellow bankruptcy attorney recently asked me.  I found the exchange interesting, so I am posting it for your edification. Question 1:… Continue Reading

Homestead Exemption After Sale Of The Residence

Posted in Chapter 11 for Individuals & Married Couples, Chapter 13, Chapter 7

If you sell your home, can the cash proceeds be exempted using the homeowner’s equity exemption?  That was the subject of two questions that a fellow bankruptcy attorney recently asked me.  I found the exchange interesting, so I am posting it for your edification. Question 1: If the proceeds from the sale of the domicile… Continue Reading

Exempting An Inherited IRA

Posted in Chapter 11, Chapter 13, Chapter 7

Can I exempt the IRA I inherited from my father when he died? This, in essence, is the question the U.S. Supreme Court very recently addressed in Clark v. RAMEKER, No. 13-299 (U.S. June 12, 2014). I.          Exempting Retirement Funds I have discussed exemptions in many previous posts. In one post I covered exempting non-ERISA-qualified… Continue Reading

Fraudulent Transfers VI

Posted in Debt

This is the sixth and last post in a series in which I discuss fraudulent transfers.  This one deals with defenses against fraudulent transfers avoidance actions. F.         Defenses To Fraudulent Conveyance Avoidance Aside from the problem of collectability — the recipient of the fraudulent transfer may be an impecunious, judgment-proof person — the trustee may… Continue Reading

Fraudulent Transfers V

Posted in Debt

This post is the fifth in a series in which I discuss fraudulent transfers.  This one deals with the consequences of fraudulent transfers, and the importance of prebankruptcy planning. E.         Denial Of Discharge And The Loss Of Assets A discharge may not be available to a debtor who engages in prepetition fraudulent transfers: The court… Continue Reading