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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Can song writing royalties and a copyright infridgment case

Customer Question

Can song writing royalties and a copyright infridgment case be protected in a ch. 13 bankruptcy? If their value exceeds my state (CA) exemptions do I have to repay 100% of my unsecured debt?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
To determine whether a debtor can keep particular assets, it is necessary to get an idea of the current value of those assets - if those assets can be sold.
If the current value of the right to those royalties, and/or the final award in the case exceeds the allowable Bankruptcy exemptions, that means the debtor must pay the difference between the value of the asset and the exemption amount in order to keep that asset.
This may and may not result in a 100% payment of unsecured debts.

I think this is what you wanted to know. If not, please let me know.
Thank you!
Customer: replied 5 years ago.
So in a ch. 13 I will have to repay the difference, but those assets wont be taken from me and sold like they would in a ch. 7?
Expert:  cfortunato replied 5 years ago.
Yes - if you can pay the difference over the 3-5 years the Chapter 13 lasts, you can keep those assets.

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