Peter Maurice Lively

Law office of Peter M lively helps individuals and businesses resolve financial problems particularly settling debts in obtaining debt relief under the United States Bankruptcy Code as debt relief agents 25 years experience in over 5000 satisfied clients. Mr. Lively obtained his JD MBA from UCLA in 1982 and was inducted as a Fellow in the American College of Bankruptcy in 2014. Mr. Lively served as President of the Central District of California Consumer Debtors Attorneys Association (cdcbaa) in 2017 after serving on the Board of Directors for the prior 10 years. Mr. Lively regularly lectures to other attorneys for their continuing legal education credits in the areas of consumer and small business bankruptcies, Chapter 7, 11 and 13.

• Bankruptcy
• Business Law
• Real Estate Law

• Free Consultation
  Initial telephone consultations (15 minutes)
• Credit Cards Accepted

California

Since 1992

9th Circuit

Since 1992

Attorney

Law Office of Peter M Lively

1994 - Current

University of California - Los Angeles

Law Degree (1992)

1988 - 1992

University of California - Los Angeles

MBA (1992)

1988 - 1992

Carnegie Mellon University

B.S. (1988) | Management & Economics

1984 - 1988

Honors: High Honors

Pro Bono Attorney of the Year

Public Counsel

2012

central district consumer bankruptcy attorneys association

President

2017 - Current

American College of Bankruptcy

Fellow

2014 - Current

California State Bar # 162686

Member

1992 - Current

Inside the Minds: Chapter 7 Consumer Bankruptcy Strategies

West Publishing

2012

Chapter 13 Plan Confirmation, Bankruptcy Judges' Conference, Indian Wells, California

May 22, 2016

Official Recognition

National Association of Consumer Bankruptcy Attorneys

Q. How low an income do you have to have to file for Chapter 7?

7 December 2018

A: Whether your income matters at all depends on whether the majority of your debt is consumer or nonconsumer. If the majority of your debt is consumer, then the next step is to determine your household size and the type (W-2 employment, self-employment, Social Security, etc.) and amount of income that you (and your spouse, if married; and domestic partner, if registered) have, plus rental income, etc. The analysis can be quite extensive depending on your facts and circumstances. Therefore, determining eligibility for chapter 7 requires that you speak with an experienced bankruptcy attorney.

Q. Can I put my 30% ownership interest in a condo into an LLC in case I go bankrupt in a couple years so it can’t be taken?

26 November 2018

A: That will not protect the property from being reached by a chapter 7 trustee. If you transfer the property without receiving comparable value and return, you will create a recoverable fraudulent transfer for your bankruptcy estate for up to 10 years depending upon the types of creditors you have when you file your bankruptcy case. You may have alternatives that are considered to be legitimate prebankruptcy planning and not create recoverable transfers to your future bankruptcy estate, but you need to consult with an experienced bankruptcy attorney for a review of all your financial facts and circumstances to determine your options.

Q. I want to file for bankruptcy? Can I get help with the fees since I’m low income? How to get a pro bono service help

13 November 2018

A: Public Counsel Law Center Los Angeles (213) 385-2977 might be able to help you. Several bankruptcy courts in the Central District of California have self-help desks. Fee waivers and fee payment plans are sometimes available by application to the court at the time you file your petition.

Q. I am filing Chapter 7 in CA. My wife has a house since before marriage and we have a prenup. Do I need to disclose?

1 October 2018

A: Yes. Not only must you disclose, but your bankruptcy estate may have an interest in that property depending upon the terms of the prenuptial agreement. California is a community property state and the marital community can develop an interest in the separate real property of either spouse by using community property earnings - creating equity in the real property from you paying home loans and sharing in the appreciation in the fair market value of the property - pursuant to a formula called the Moore Marsden calculation. You should speak with an attorney who is familiar with family law.

Q. What are the options and requirements for reinvesting Homestead Exemption funds while in Chapter 7 bankruptcy?

21 September 2018

A: California Code of Civil Procedure Section 704.710 provides the definition of a dwelling and the types of dwellings which may your homestead which include a house, a mobile home, a boat, etc. If you don't reinvest the homestead funds within the six months deadline, the trustee will be able to take back those funds for the bankruptcy estate. You should consult with an attorney regarding your deadline and the residence requirements.

Q. Husband accumulates debt with payday loans and other forms without my knowledge. How to protect my assets. Can I?

11 September 2018

A: Inheritance is separate property of the receiving spouse under California law, but it can be transmuted (changed) into community property and thereby become a potential bankruptcy estate asset in your husband's potential individual bankruptcy case. Therefore, you need to understand how separate property can be transmuted into community property and how best to protect your inheritance. As already advised in this forum, you should seek a consultation with an experienced bankruptcy attorney who can advise you regarding your options, after you disclose all of your financial facts and circumstances.

Q. Will my car be taken away if I file for bankruptcy? I don't want to take public transportation.

24 August 2018

A: Probably not. However, you need to provide an experienced bankruptcy attorney with all of your financial facts and circumstances so that he or she can help you determine your options. If bankruptcy is a viable option, then your attorney will help you determine which of your assets (or how much equity in your various assets) are exempt from being used by a bankruptcy trustee to pay your creditors.

Q. Can a judgment against me garnish my SSDI (Disability), my old VW Bug that's worth less than $3,000, my furniture?

9 August 2018

A: SSDI is exempt from creditor claims under Federal Law - 38 U.S. Code Section 5301, with very few exceptions. You are entitled to additional exemptions from creditor collection for your personal property under California Law - California Code of Civil Procedure Section 703 or 704. Rest assured that your pet cats can't be taken away by your creditors. When a judgment creditor executes on a judgment, through a writ of levy, the levying officer (Sheriff in California) generally provides forms to the judgment debtor for use in claiming property as exempt. If you can't afford a lawyer, you might be able to obtain assistance from Public Counsel at www.publiccounsel.org or a similar organization in your area.

Q. What are the legal ramifications if I choose to stop paying my second mortgage?

27 July 2018

A: Foreclosure is the biggest risk of not paying a loan secured by your real property. When you stop paying a loan secured by your residence a foreclosure trustee's sale may ultimately take away your title (ownership) interest. you may or may not owe anything to the junior lender after the foreclosure sale is completed. Whether or not you are personally liable on a home loan often depends upon whether you obtained the loan to purchase your primary residence or whether you obtained it at subsequent date - a home equity line of credit ( HELOC) for example. California law provides certain protections to borrowers regarding purchase money loans for their principal residences under California Code of Civil Procedure Section 580 (commonly known as anti-deficiency law). You should consult with an experienced attorney for a review of your loan documents, your budget, and that determination of your options.