In re Scruggs
May
31
2006
Ruling
Objection to confirmation was sustained since plan failed to propose to pay interest on creditor's secured claim at rate prescribed by Till case.
Procedural posture
Debtors filed a voluntary petition for relief under the provisions of chapter 13. Debtors'plan proposed to pay the sum of $854 per month to the trustee for a period of 60 months. A creditor filed a timely objection to confirmation of the plan, asserting that the plan failed to propose to pay it the present value of its claim over the life of the plan as required by 11 U.S.C. § 1325(a)(5)(B)(ii).
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Court
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