The court sustained an objection to a modified plan providing for the surrender of a vehicle purchased within 910 days of the petition date in full satisfaction of a secured claim because under 11 U.S.C. § 1325(a)(5) and the concomitant "hanging paragraph," any deficiency that remains after the sale of a 910 vehicle gives rise to an unsecured debt that must be treated as an unsecured claim in the plan.
File:
Judge:
Date:
Wednesday, July 9, 2008
Category:
Plan Modification
Unsecured Claim
Chapter:
13