In re Munzberg
Jun
03
2008
Ruling
Negative equity in vehicle was not part of PMSI and could be bifurcated.
Procedural posture
Bankruptcy debtors' chapter 13 plan proposed to pay a creditor secured by the debtors' vehicle the value of the vehicle, and to cram down the balance of the amount owed to the creditor as general unsecured debt. The creditor objected to confirmation of the debtors' plan on the ground that bifurcation of its secured claim was precluded under 11 U.S.C.S. § 1325(a) (hanging paragraph referencing paragraph 5).
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Court
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