For more than 20 years, our Law Firm has been providing skilled bankruptcy legal services to clients throughout Los Angeles. Robert K. Lee is 1 of 35 Bankruptcy Lawyers in Los Angeles that is a Board Certified Bankruptcy Law Specialist. Click on the video directly below to watch a YouTube video of Bill M. talk about his great experience with Robert K. Lee and his staff. Giving superior services to clients like Bill M. is why Mr. Lee has earned a "Superb" 10 out of 10 Rating from Avvo.com. If you are looking for a Bankruptcy Attorney in Los Angeles, you have come to the right place.
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A popular misconception is that a student loan is either entirelydischargeable or non-dischargeable. However, it is possible to partially discharge a student loan debt, provided the debtor satisfies the burden of meeting the requirements of all three prongs of the “undue hardship” test. [In re Saxman (9th Cir. 2003) 325 F3d 1168, 1173–1175; In re Carnduff (9th Cir. BAP 2007) 367 BR 120, 130–131; In re Craig (9th Cir. 2009) 579 F3d 1040, 1044]
Negative amortization plans do not necessarily violate the "fair and equitable" rule when the DIP defers payments of interest on its debt obligation where the deferred amount can be capitalized at a rate of interest which enables the deferred amount to equal the present value of the creditor's allowed secured claim. Great Western Bank v. Sierra Woods Group (9th Cir. 1992) 953 F2d 1174, 1176-1177. The "fair and equitable" rule, otherwise known as the "absolute priority rule" is one of the two prongs of a test that must be met to confirm a non-consensual plan of reorganization in Chapter 11.
Chapter 11 Plans are confirmed by classes of claims that vote to accept or reject the plan of reorganization. If all accept the plan [either because they are unimpaired or vote affirmatively to accept the plan], then that plan is considered a consensual plan. A non-consensual plan can still be "crammed down" on a class of claims by meeting other requirements [i.e. the "unfair discrimination" and "fair and equitable" prongs]. How is acceptance by a class determined ? Acceptance by a class of claims is determined by 2/3 of the dollar amount and more than 1/2 of the number of claims who actually vote. Thus, it is imperative to know who is likely to vote and who is not likely to vote.
A Trustee has 30 days to object to a
debtor's claim of exemption. F.R.B.P. 4003(b)(4) requires the trustee
or any creditor to file an objection to exemptions within 30 days after
the conclusion of the meeting of creditors held pursuant to Rule
2003(a), or the filing of any amendment to the list or supplemental
schedules unless, within such period, further time is granted by the
court.
As a Bankruptcy Lawyer in Los Angeles, Robert Kevin Lee A.P.C. is one of the best Bankruptcy Lawyers in Los Angeles. He is a Board Certified Bankruptcy Attorney in Los Angeles, just one of 35 such Certified Bankruptcy Attorneys in Los Angeles County. As one of only 35 Certified Bankruptcy Lawyers in Los Angeles County, he has helped thousands erase debt and get a fresh start. ROBERT KEVIN LEE, A.P.C. is the place to call if you are looking for one of the best Los Angeles Bankruptcy Lawyers | Lawyer or Los Angeles Bankruptcy Attorneys | Attorney.
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