Comments on: Legalese? http://www.bankruptcy-help-resources.com/legalese/ Quick Answers to Bankruptcy Questions & Understand How Bankruptcy Laws Affect You Thu, 03 Dec 2009 17:06:21 +0000 hourly 1 http://wordpress.org/?v=3.1 By: cus3500 http://www.bankruptcy-help-resources.com/legalese/#comment-2158 cus3500 Fri, 02 Oct 2009 16:19:42 +0000 http://www.bankruptcy-help-resources.com/legalese/#comment-2158 Disclaimer: the following is what it appears to mean by my interpretation, but as I don't know the details and am not an expert, please don't make any decisions based on my interpretation! (a)Someone else cannot be designated to receive the payment/benefit, and the money is protected from entities who may think they have a right to a piece of it. (b)No one can make it seem as though they are changing or overriding the terms of this section unless the terms of this section are specifically referred to/ complied with. (c)Withholding taxes from this payment/benefit may be possible under the specific terms of 3402(p)(1) of etc, etc... by certain people, so we don't want to look as though we're saying it can't be. Disclaimer: the following is what it appears to mean by my interpretation, but as I don’t know the details and am not an expert, please don’t make any decisions based on my interpretation!

(a)Someone else cannot be designated to receive the payment/benefit, and the money is protected from entities who may think they have a right to a piece of it.

(b)No one can make it seem as though they are changing or overriding the terms of this section unless the terms of this section are specifically referred to/ complied with.

(c)Withholding taxes from this payment/benefit may be possible under the specific terms of 3402(p)(1) of etc, etc… by certain people, so we don’t want to look as though we’re saying it can’t be.

]]> By: Gilbert A http://www.bankruptcy-help-resources.com/legalese/#comment-2157 Gilbert A Tue, 29 Sep 2009 14:53:33 +0000 http://www.bankruptcy-help-resources.com/legalese/#comment-2157 It seems to pertain to some kind of public assistance payment. (a) You can't pledge the payment as collateral for a loan. A lender or creditor can't get at it, even if you declare bankruptcy. (b) Other laws are no exception to (a) unless they specifically say so. (c) Using the proper procedure, the federal government can deduct federal income tax from the payment. It seems to pertain to some kind of public assistance payment.

(a) You can’t pledge the payment as collateral for a loan. A lender or creditor can’t get at it, even if you declare bankruptcy.

(b) Other laws are no exception to (a) unless they specifically say so.

(c) Using the proper procedure, the federal government can deduct federal income tax from the payment.

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