In re Belcher
Jun
06
2007
Ruling
Debtors could not turn over insurance proceeds from wrecked vehicle that had been subject to the hanging paragraph in full satisfaction of secured claim.
Procedural posture
Movant creditor objected to confirmation of a modified plan filed by chapter 13 debtors, who had originally agreed to pay the value of the claim in full and to retain the vehicle that secured it. At issue was whether 11 U.S.C. § 1329 or the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA") authorized or prohibited a modification allowing debtors to surrender the car in full satisfaction of the claim following a casualty thereto.
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Court
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