In re Feddersen
Nov
15
2006
Ruling
Secured creditor could not avail itself of claim bifurcation process where debtor surrendered collateral in full satisfaction of debt.
Procedural posture
Creditor, which held a purchase money security interest in debtor's motor vehicle purchased within 910 days of the petition date, filed an objection to the confirmation of debtors'chapter 13 plan, asserting it was entitled to an unsecured claim for the deficiency owed on the vehicle that debtors proposed to surrender in full satisfaction of creditor's claim, under the revised form of 11 U.S.C. § 1325(a)(5).
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Court
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