I'm a certified specialist in bankruptcy law (California State Bar Board of Legal Specialization) practicing in the San Francisco Bay Area for more than 30 years. In addition to practicing bankruptcy law, I train new practitioners at Bankruptcy Mastery.


Author: Cathy Moran, Esq.

07 Mar Strip down of car loan OK

A decision this week out of the Eastern District of North Carolina should be music to the ears of Chapter 13 debtors with recent car loans. Judge Small ruled in the Telephius Price case, 06-00957-5 that the infamous "hanging paragraph" inserted in the Bankruptcy Code does not prohibit the cram down of the car loan if the purchase loan financed charges other than the price of the car. The background of the issue is found in efforts of car lenders to lobby Congress to prevent Chapter 13 debtors from stripping down the lien to the value of the car at filing: the claim was treated as a secured claim, and paid with interest, to the extent that there was value in the car and the balance of the debt was treated as unsecured.
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02 Mar California Expands IRA Protection

An intermediate appeals court in California held last month that funds traceable from a fully exempt pension plan into an IRA with otherwise limited exemption are fully exempt.  McMullen v. Haycock, Cal.Rptr.3d---, 2007 WL 447913, Cal.App. 2 Dist., February...

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