Blogs

2 years 2 days ago

It’s tax season and the scam artists are also out in force. Even our law office — which specializes in tax matters — recently got an email asking us to pay a phony tax bill!
There are a number of scams out there with criminals pretending to be IRS agents and contacting persons by email and telephone trying to get them to pay up a phony tax debt.
The single most effective rule to remember is this: IRS does not make initial contact with taxpayers by email. If there is a tax problem, you will be notified by mail. Period.
Below is a press release from IRS warning taxpayers about telephone scams that are also common.

IRS Reiterates Warning of Pervasive Telephone Scam
R-2014-53, April 14, 2014
WASHINGTON — As the 2014 filing season nears an end, the Internal Revenue Service today issued another strong warning for consumers to guard against sophisticated and aggressive phone scams targeting taxpayers, including recent immigrants, as reported incidents of this crime continue to rise nationwide. These scams won’t likely end with the filing season so the IRS urges everyone to remain on guard.
The IRS will always send taxpayers a written notification of any tax due via the U.S. mail. The IRS never asks for credit card, debit card or prepaid card information over the telephone. For more information or to report a scam, go to www.irs.gov and type “scam” in the search box.

People have reported a particularly aggressive phone scam in the last several months. Immigrants are frequently targeted. Potential victims are threatened with deportation, arrest, having their utilities shut off, or having their driver’s licenses revoked. Callers are frequently insulting or hostile – apparently to scare their potential victims.
Potential victims may be told they are entitled to big refunds, or that they owe money that must be paid immediately to the IRS. When unsuccessful the first time, sometimes phone scammers call back trying a new strategy.
Other characteristics of this scam include:

• Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
• Scammers may be able to recite the last four digits of a victim’s Social Security number.
• Scammers spoof the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
• Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
• Victims hear background noise of other calls being conducted to mimic a call site.
• After threatening victims with jail time or driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim.

If you get a phone call from someone claiming to be from the IRS, here’s what you should do:

• If you know you owe taxes or you think you might owe taxes, call the IRS at 1.800.829.1040. The IRS employees at that line can help you with a payment issue, if there really is such an issue.
• If you know you don’t owe taxes or have no reason to think that you owe any taxes (for example, you’ve never received a bill or the caller made some bogus threats as described above), then call and report the incident to the Treasury Inspector General for Tax Administration at 1.800.366.4484.
• You can file a complaint using the FTC Complaint Assistant; choose “Other” and then “Imposter Scams.” If the complaint involves someone impersonating the IRS, include the words “IRS Telephone Scam” in the notes.

Taxpayers should be aware that there are other unrelated scams (such as a lottery sweepstakes) and solicitations (such as debt relief) that fraudulently claim to be from the IRS.
The IRS encourages taxpayers to be vigilant against phone and email scams that use the IRS as a lure. The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.
The IRS also does not ask for PINs, passwords or similar confidential access information for credit card, bank or other financial accounts. Recipients should not open any attachments or click on any links contained in the message. Instead, forward the e-mail to phishing@irs.gov.
More information on how to report phishing scams involving the IRS is available on the genuine IRS website, IRS.gov.
You can reblog the IRS tax scam alert via Tumblr.

If you have, or think you have a real tax problem, call our office. We’ll be happy to talk to you.


1 year 6 months ago

It’s tax season and the scam artists are also out in force. Even our law office — which specializes in tax matters — recently got an email asking us to pay a phony tax bill!
There are a number of scams out there with criminals pretending to be IRS agents and contacting persons by email and telephone trying to get them to pay up a phony tax debt.
The single most effective rule to remember is this: IRS does not make initial contact with taxpayers by email. If there is a tax problem, you will be notified by mail. Period.
Below is a press release from IRS warning taxpayers about telephone scams that are also common.

IRS Reiterates Warning of Pervasive Telephone Scam
R-2014-53, April 14, 2014
WASHINGTON — As the 2014 filing season nears an end, the Internal Revenue Service today issued another strong warning for consumers to guard against sophisticated and aggressive phone scams targeting taxpayers, including recent immigrants, as reported incidents of this crime continue to rise nationwide. These scams won’t likely end with the filing season so the IRS urges everyone to remain on guard.
The IRS will always send taxpayers a written notification of any tax due via the U.S. mail. The IRS never asks for credit card, debit card or prepaid card information over the telephone. For more information or to report a scam, go to www.irs.gov and type “scam” in the search box.

People have reported a particularly aggressive phone scam in the last several months. Immigrants are frequently targeted. Potential victims are threatened with deportation, arrest, having their utilities shut off, or having their driver’s licenses revoked. Callers are frequently insulting or hostile – apparently to scare their potential victims.
Potential victims may be told they are entitled to big refunds, or that they owe money that must be paid immediately to the IRS. When unsuccessful the first time, sometimes phone scammers call back trying a new strategy.
Other characteristics of this scam include:

• Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
• Scammers may be able to recite the last four digits of a victim’s Social Security number.
• Scammers spoof the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
• Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
• Victims hear background noise of other calls being conducted to mimic a call site.
• After threatening victims with jail time or driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim.

If you get a phone call from someone claiming to be from the IRS, here’s what you should do:

• If you know you owe taxes or you think you might owe taxes, call the IRS at 1.800.829.1040. The IRS employees at that line can help you with a payment issue, if there really is such an issue.
• If you know you don’t owe taxes or have no reason to think that you owe any taxes (for example, you’ve never received a bill or the caller made some bogus threats as described above), then call and report the incident to the Treasury Inspector General for Tax Administration at 1.800.366.4484.
• You can file a complaint using the FTC Complaint Assistant; choose “Other” and then “Imposter Scams.” If the complaint involves someone impersonating the IRS, include the words “IRS Telephone Scam” in the notes.

Taxpayers should be aware that there are other unrelated scams (such as a lottery sweepstakes) and solicitations (such as debt relief) that fraudulently claim to be from the IRS.
The IRS encourages taxpayers to be vigilant against phone and email scams that use the IRS as a lure. The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.
The IRS also does not ask for PINs, passwords or similar confidential access information for credit card, bank or other financial accounts. Recipients should not open any attachments or click on any links contained in the message. Instead, forward the e-mail to phishing@irs.gov.
More information on how to report phishing scams involving the IRS is available on the genuine IRS website, IRS.gov.
You can reblog the IRS tax scam alert via Tumblr.

If you have, or think you have a real tax problem, call our office. We’ll be happy to talk to you.


2 months 6 days ago

It’s tax season and the scam artists are also out in force. Even our law office — which specializes in tax matters — recently got an email asking us to pay a phony tax bill!
There are a number of scams out there with criminals pretending to be IRS agents and contacting persons by email and telephone trying to get them to pay up a phony tax debt.
The single most effective rule to remember is this: IRS does not make initial contact with taxpayers by email. If there is a tax problem, you will be notified by mail. Period.
Below is a press release from IRS warning taxpayers about telephone scams that are also common.

IRS Reiterates Warning of Pervasive Telephone Scam
R-2014-53, April 14, 2014
WASHINGTON — As the 2014 filing season nears an end, the Internal Revenue Service today issued another strong warning for consumers to guard against sophisticated and aggressive phone scams targeting taxpayers, including recent immigrants, as reported incidents of this crime continue to rise nationwide. These scams won’t likely end with the filing season so the IRS urges everyone to remain on guard.
The IRS will always send taxpayers a written notification of any tax due via the U.S. mail. The IRS never asks for credit card, debit card or prepaid card information over the telephone. For more information or to report a scam, go to www.irs.gov and type “scam” in the search box.

People have reported a particularly aggressive phone scam in the last several months. Immigrants are frequently targeted. Potential victims are threatened with deportation, arrest, having their utilities shut off, or having their driver’s licenses revoked. Callers are frequently insulting or hostile – apparently to scare their potential victims.
Potential victims may be told they are entitled to big refunds, or that they owe money that must be paid immediately to the IRS. When unsuccessful the first time, sometimes phone scammers call back trying a new strategy.
Other characteristics of this scam include:

• Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
• Scammers may be able to recite the last four digits of a victim’s Social Security number.
• Scammers spoof the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
• Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
• Victims hear background noise of other calls being conducted to mimic a call site.
• After threatening victims with jail time or driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim.

If you get a phone call from someone claiming to be from the IRS, here’s what you should do:

• If you know you owe taxes or you think you might owe taxes, call the IRS at 1.800.829.1040. The IRS employees at that line can help you with a payment issue, if there really is such an issue.
• If you know you don’t owe taxes or have no reason to think that you owe any taxes (for example, you’ve never received a bill or the caller made some bogus threats as described above), then call and report the incident to the Treasury Inspector General for Tax Administration at 1.800.366.4484.
• You can file a complaint using the FTC Complaint Assistant; choose “Other” and then “Imposter Scams.” If the complaint involves someone impersonating the IRS, include the words “IRS Telephone Scam” in the notes.

Taxpayers should be aware that there are other unrelated scams (such as a lottery sweepstakes) and solicitations (such as debt relief) that fraudulently claim to be from the IRS.
The IRS encourages taxpayers to be vigilant against phone and email scams that use the IRS as a lure. The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.
The IRS also does not ask for PINs, passwords or similar confidential access information for credit card, bank or other financial accounts. Recipients should not open any attachments or click on any links contained in the message. Instead, forward the e-mail to phishing@irs.gov.
More information on how to report phishing scams involving the IRS is available on the genuine IRS website, IRS.gov.
You can reblog the IRS tax scam alert via Tumblr.

If you have, or think you have a real tax problem, call our office. We’ll be happy to talk to you.


3 years 8 months ago

The right destination
I get dozens of questions each day from potential clients, but the top question when it comes to bankruptcy is this:
Isn’t it a better idea to settle my debts instead of filing for bankruptcy?
Sadly, there’s no right or wrong answer to that question. For some people, filing for bankruptcy makes the most sense. For others, debt settlement is the weapon of choice.
Here are some of the considerations you should take into account when making the decision between filing for bankruptcy and engaging in debt settlement.
How many debts do you have? If you’ve got only 1 or 2 outstanding obligations then it makes sense to look into debt settlement before bankruptcy. With fewer open accounts, it’s easier to negotiate settlements. When you’ve got a large number of creditors, it’s tougher to get them all to fall into line.
What types of debts do you have? Some creditors will talk settlement, others won’t. Credit card companies, for example, may be willing to accept an amount lower than what’s due to pay the debt in full. Federal student loans, however, don’t settle that often.
Do you have the money to settle your debts? When a creditor agrees to a settlement there’s usually a requirement that the funds be paid immediately or within a few months. Without the money to spend on a settlement, negotiations won’t get you very far.
Can you live with the tax fallout? A creditor who agrees to forgive more than $600 of the balance due is required to send you a Form 1099 at the end of the year, and you may have to pay taxes on the forgiven amount. There are some situations where you can get out of the tax obligation, but you definitely want to sit down and talk with your tax professional before making the decision to settle your debts.
What’s the impact of settlement? When you settle a debt for less than the amount due, your credit report is updated to reflect that fact. The settlement notation can remain on your credit report for up to 7 years.
Do you need the money? Even if you’ve got the cash to fund a settlement of your debt, you need to consider the others uses that may exist for that money. Whether it’s a savings account for retirement, emergencies, or home repairs it’s important to remember that settlement is going to hit you in the wallet so plan accordingly.
Deciding to settle your debts rather than filing for bankruptcy may seem like a good idea on its face – and for you, it may be the right decision. Before making that choice, however, you need to weigh all your options and come to the decision that makes the most sense for you.


3 years 8 months ago

The Wet Seal Inc. has filed for Chapter 11 bankruptcy protection in an attempt to save its remaining retail stores, according to an announcement made Friday.
The statement came just over a week after the teen clothing retailer stated it would be closing 338 locations and laying off 3,700 employees, roughly two-thirds its total chain. The bankruptcy filing listed assets of $10 million to $50 million and liabilities between $100 million and $500 million.
Wet Seal had cautioned last month it was considering bankruptcy as an option if it was unable to settle its cash issues, after reporting yet another quarter of losses.
Similar mall-based retailers Delia’s Inc. and Deb Stores filed for Chapter 11 bankruptcy in December—further evidencing the impact cheap, fast-fashion stores like H&M and Forever 21 have in the current teen fashion marketplace.
Wet Seal started in 1962 as a bikini shack in Newport Beach, California. Canadian retailer Suzy Shier acquired the company in 1984. The company went public in 1990 and expanded over the decade with additions such as Arden B., Contempo Casuals and Zutopia. By 2001, all stores converted to the Wet Seal name.
The company restructured in 2013 after a long streak of issues. Retail-industry veteran John Goodman was brought in January 2013 to assist in refocusing the company after former CEO Susan McGalla was fired in July 2012.
Goodman stepped down September 2014 and Wet Seal was taken over by previous president and CEO Ed Thomas.
Additionally, Wet Seal ran into problems with an investment group that was displeased with its financial performance in 2012. In 2013 the retailer agreed to a $7.5 million settlement in a racial discrimination lawsuit filed by three former employees.
"Wet Seal failed for two reasons: a company that failed to stay in tune with their customers and new rivals like H&M that were able to get cooler merchandise to the stores quicker and with slightly better quality than Wet Seal," according to Brian Sozzi, CEO of Belus Capital Advisors.
A financing deal with investment bank B. Riley could help save some of Wet Seal’s business. They are in talks about a $20 million loan that could finance operations during the Chapter 11 bankruptcy process.
Wet Seal’s shares closed at 4 centers on Friday.


3 years 8 months ago

When ever I speak with members of the public about what I do, people automatically start in with the typical myths about bankruptcy.  They talk about “those people” and “irresponsible behavior.”  However, what they need to realize is that most people who file bankruptcy are good, upstanding citizens who simply had a something go wrong in their life.
Doctor42% of all personal bankruptcies are the result of medical expenses.  Of these individuals, 78% had medical insurance.  These individuals were doing everything right.  Most were working, carrying insurance and only borrowing what they could afford to repay.  Then a major health concern drove them down a path to financial disaster.  In my experience, most of these people have never missed a payment and would never have imagined themselves having to seek a fresh start through bankruptcy.
unemployment22% of individuals who filed bankruptcy are unemployed.  When I see these individuals they tend to be people who have had a job all their life.  They spend their lives taking care of everyone but themselves.  They put their kids through college, take care of their parents in their old age, and donate to church and charity.  They assume that because they work hard and contribute to society that they can save for the future later.  Then when the future gets here they don’t have money available to get through what is often a prolonged period of unemployment.
credit cardsOnly 15% of personal bankruptcies are the result of over spending.  These are the individuals who quote credit card bills, large mortgages or excessive car payments as the primary cause of filing bankruptcy.  For these individuals, uncontrolled spending has led them down a path that led to financial disaster.  However, with proper counselling, bankruptcy can not only lead to a fresh start, but also new habits that will make their lives better.
court ordered payments8% of personal bankruptcies are filed because due to the burden of child support, alimony or the burden or raising a family on a single income.  For these individuals their dedication to family has led their personal finances to the brink of collapse.  While child support and alimony are not dischargeable, most of these individuals have occurred other debts in order to remain current on their familial obligations.
house fire7% of personal bankruptcies are the result of a major disaster.  House fires, tornadoes and other natural disasters can cause individuals who are not properly prepared to seek the protection of the bankruptcy courts in order to get back on their feet.
If someone you know needs a fresh start it is important that you don’t judge them.  Don’t make them feel that by filing bankruptcy they are doing something morally corrupt.  Understand that they need help and guide them to a qualified bankruptcy attorney.
 
 


3 years 8 months ago

Filing Bankruptcy with too much property? If you or someone you know is thinking of filing bankruptcy, the value of the property that one has must be ascertained. If you have very little property and if the market value is low, you will more likely than not be eligible for a chapter 7 fresh start+ Read More
The post Thinking Of Filing Bankruptcy? Check Your Property Values appeared first on David M. Siegel.


3 years 8 months ago

On January 18, 2015, Fox Rothschild's Delaware Bankruptcy Litigation blog published a post
"Caesars Bankruptcy: Illinois Bankruptcy Proceeding Stayed by Delaware Bankruptcy Court". 

The article reviews a situation where creditors filed a petition for an involuntary chapter 11 bankruptcy on January 12, 2015 against Caesars Entertainment in the Bankruptcy Court in Delaware and then three days later Caesars Entertainment filed a voluntary chapter 11 case in the Bankruptcy Court of the Northern District of Illinois.

The Delaware Bankruptcy Court referred to this as a situation of  "parallel proceedings." In its January 15, 2015 order, the Delaware Bankruptcy Court ordered that the proceedings in the Illinois Bankruptcy case be stayed,  except for certain first day motions, pending "issuance of an order determining, if necessary, the venue in which the Debtor's chapter 11 case shall proceed."

 Sta

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 years 8 months ago

On January 18, 2015, Fox Rothschild's Delaware Bankruptcy Litigation blog published a post
"Caesars Bankruptcy: Illinois Bankruptcy Proceeding Stayed by Delaware Bankruptcy Court". 

The article reviews a situation where creditors filed a petition for an involuntary chapter 11 bankruptcy on January 12, 2015 against Caesars Entertainment in the Bankruptcy Court in Delaware and then three days later Caesars Entertainment filed a voluntary chapter 11 case in the Bankruptcy Court of the Northern District of Illinois.

The Delaware Bankruptcy Court referred to this as a situation of  "parallel proceedings." In its January 15, 2015 order, the Delaware Bankruptcy Court ordered that the proceedings in the Illinois Bankruptcy case be stayed,  except for certain first day motions, pending "issuance of an order determining, if necessary, the venue in which the Debtor's chapter 11 case shall proceed."

 Sta

Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com


3 years 8 months ago

Court Can't Surcharge Chapter 7 Bankruptcy ExemptionsNearly a year ago, The Supreme Court held in Law v. Siegel (In re Law), No. 12-5196, 571 U.S. ___ (March 4, 2014), that despite a debtor’s misdeeds, the Bankruptcy Court still has to follow the Bankruptcy Code and can’t just dispense its own sense of justice ad hoc. This same reasoning was recently applied in a bankruptcy court case in California, In re Arellano, 517 B.R. 228 (Bankr. S.D. Cal. 2014), the bankruptcy court there followed the Supreme Court’s logic in affirming that a bankruptcy trustee can’t object to a debtor’s amended claim of exemption based merely on a claim of “bad faith,” just because the debtor failed to disclose the asset in his original filing. Following the Law case, the bankruptcy court reasoned, any exception to a debtor’s claimed exemption must be based in law, not simply the bankruptcy court’s own sense of equitable considerations. This case prompted me to go back and cover the Law case.
In the Law case, the Supreme Court held that just because a Chapter 7 Bankruptcy debtor has committed some pretty serious misdeeds, that does not give the Bankruptcy Court the authority to “surcharge” his homestead exemption. Seriously, though, folks, don’t try this at home. Sometimes it takes really bad facts to get good law. The Chapter 7 bankruptcy debtor in this case—on appeal to the Supreme Court from the Ninth Circuit—was about as unsympathetic a character as one might imagine. The debtor, whose name was actually Law (no kidding) filed Chapter 7 bankruptcy in 2004. The only significant asset was debtor’s home in Hacienda Heights, California, valued at $363,348. The debtor claimed his California homestead exemption, protecting $75,000 of any equity in the property. The property was also encumbered by a valid note and first deed of trust in favor of Washington Mutual in the amount of $147,156.52. Debtor also claimed a second note and deed of trust (recorded in 1999) in favor of a “Lin’s Mortgage & Associates” in the amount of $156,929.04.
However, the bankruptcy court found that this second deed of trust was a fiction, manufactured by the debtor. The Chapter 7 trustee brought an adversary proceeding to invalidate the second deed of trust as fraudulent. Proving that truth is often stranger than fiction, two—count ’em, two—separate individuals claiming to be “Lily Lin,” (the named beneficiary of the fraudulent deed of trust) answered the bankruptcy trustee’s complaint. The first was an acquaintance of the debtor who denied ever lending the debtor the money that was supposedly secured by the deed of trust. This first Lily Lin cooperated with the bankruptcy trustee detailing how the debtor had attempted to involve her in the fraudulent deed of trust years before. Take this as a lesson: the debtor evidently planned his bankruptcy fraud for a long time, having recorded the fraudulent deed of trust in 1999—five years before he filed his Chapter 7 bankruptcy. It didn’t matter. Never, and I mean never, try to pull one over on the bankruptcy trustee or the Bankruptcy Court.
The second “Lily Lin” who answered the bankruptcy trustee’s complaint was purportedly a resident of China who spoke no English, but who nevertheless litigated the adversary proceeding for five years until, in 2009, the Bankruptcy Court found that no such person had ever lent the debtor any money for the fraudulent deed of trust. The court further found that it was in fact the debtor who likely “authored, signed, and filed” the pleadings on behalf of this purported second “Lily Lin.” The five years of bankruptcy litigation cost the Chapter 7 bankruptcy trustee over $500,000 in attorneys’ fees.
When the debtor’s fictitious straw person finally lost at trial, the Bankruptcy Court then imposed a “surcharge” against the debtor’s $75,000 homestead exemption in its entirety to defray the Chapter 7 trustee’s legal expenses. On appeal, the Ninth Circuit upheld this surcharge citing Latman v. Burdette, 366 F. 3d. 774 (2004), which had recognized the court’s authority to surcharge a statutory exemption among the court’s equitable powers where the debtor had engaged in fraudulent conduct.
Now, everyone can readily agree that this case presents a dishonest bankruptcy debtor for whom we can muster little sympathy. But the particularly unsavory debtor and his actions aren’t what make this case important and good for bankruptcy debtors generally. Like I said at the outset, sometimes it takes bad facts to result in good law. The technical issue before the Supreme Court was whether the bankruptcy court has the authority to take away a Chapter 7 bankruptcy debtor’s statutory exemptions, such as the California homestead exemption. The Ninth Circuit had held that bankruptcy courts do have such authority under either 11 U.S.C. §105(a), which grants the court the authority to “issue any order, process, or judgment that is necessary or appropriate to carry out the provisions of” the Code, or the “inherent power” recognized in another Supreme Court case, Marrama v. Citizens Bank of Mass, 549 U.S. 365, 375-376 (2007), to “sanction ‘abusive litigation practices.’” The question before the Supreme Court was whether either of these gave the Bankruptcy Court the authority to ignore the debtor’s rightful statutory exemptions and “surcharge” the debtor’s homestead exemption.
The Ninth Circuit Court of Appeals ruled that the Bankruptcy Code plainly makes a debtor’s exemptions “not liable for payment of any administrative expense” 11 USC §522(k). Neither Bankruptcy Code §105(a) nor the “inherent power” to sanction recognized previously by the Supreme Court may contravene a specific provision of the Code. “The Bankruptcy Court thus violated §522’s express terms when it ordered that the $75,000 protected by [debtor’s] homestead exemption be made available to pay [the Trustee’s] attorney’s fees, an administrative expense.” Section 522(k) “does not give courts discretion to grant or withhold exemptions based on whatever considerations they deem appropriate.” The trustee could have timely objected to the claimed exemption but failed to do so. The debtor could also be denied a discharge under §727 or sanctioned under Rule 9011 or even prosecuted criminally, but the Bankruptcy Court has no authority to impose a “surcharge” on a claimed exemption.
The Law case has far reaching implications. At its core, it stands for the proposition that the bankruptcy court does not have the discretion to ignore the Bankruptcy Code or state law statutory exemptions available to every debtor, even unsavory ones.


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