- 11 U.S.C.
In re Miller
Sep
24
2008
Ruling
Debtor's proposed valuation of jewelry denied due to discrepancy between claimed value and higher amount owed on jewelry to creditors.
Procedural posture
A debtor filed for relief under chapter 7 of the Bankruptcy Code and claimed on his schedules that he had jewelry valued at $5.00. The debtor also claimed that two creditors held secured claims for over $5,550 in jewelry purchases. The jewelry belonged to the debtor's non-filing spouse. The debtor then filed a motion to redeem and sought a valuation of $230 for the jewelry at issue, pursuant to 11 U.S.C.S. § 722.
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Court
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