- 11 U.S.C.
Drive Fin. Servs. LP v. Jordan
Mar
12
2008
Ruling
Till case remains binding precedent under BAPCPA regarding application of prime-plus interest rate.
Procedural posture
Appellant creditor sought a direct appeal under 28 U.S.C.S. § 158(d)(2) of orders of the United States Bankruptcy Court for the Eastern District of Texas amending and confirming a chapter 13 bankruptcy plan submitted by appellee debtors, which provided for interest on the creditor's secured claim on the debtors' truck at a "prime-plus" interest rate pursuant to the cram down provision of 11 U.S.C.S. § 1325(a)(5)(B).
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
In re Wallace
Nov
12
2007
Ruling
Chapter 13 plan calling for balloon payment to creditor whose claim was secured by real property could not be confirmed.
Procedural posture
A creditor filed an objection, pursuant to 11 U.S.C. § 1325(a)(5)(B)(iii), to the individual debtors'chapter 13 plan.
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Court
:
- 11 U.S.C.
In re Garcia
Nov
09
2007
Ruling
Release of lien language could not be included in chapter 13 plan.
Procedural posture
A debtor's chapter 13 plan provided a mechanism for creditors secured by lien notations on certificates of title to release their liens under 11 U.S.C. § 1325(a)(5)(B)(i) upon either the debtor's payment of the entire indebtedness owed to the creditor or an entry of discharge under 11 U.S.C. § 1328. A creditor opposed confirmation of the plan in light of the release provision.
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Court
:
- 11 U.S.C.
In re Lilly
Oct
30
2007
Ruling
Chapter 13 debtor not entitled to discharge could confirm plan paying Till rate of interest on "910" claim.
Procedural posture
Claimant creditor objected to confirmation of debtor's Amended Chapter 13 Plan. At issue was whether the lien retention provision added by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") to 11 U.S.C. § 1325(a)(5)(B)(i) prevented a chapter 13 debtor who was not entitled to a discharge from modifying the interest rate on a secured claim and, if permitted, the post-bankruptcy effect of such modification.
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Court
:
- 11 U.S.C.
In re Luckett
Oct
24
2007
Ruling
Plan proposing "adequate protection payments" followed by a balloon payment could not be confirmed.
Procedural posture
A chapter 13 trustee and a secured creditor filed objections to confirmation of the debtors'plan. The plan proposed to reduce and fix the creditor's interest on its claim, to provide the creditor with adequate protection payments for the life of the plan, and to make a balloon payment to pay the secured creditor in full.
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Court
:
- 11 U.S.C.
In re Erwin
Oct
01
2007
Ruling
Equal payment provision not directed at payments by trustee to secured creditors.
Procedural posture
The debtors moved for confirmation of their amended chapter 13 plan. A secured creditor objected on the basis that the plan failed to provide for its secured claim to be paid in equal monthly payments. The issue was whether the trustee could continue to pay debtors'attorney fees on an accelerated basis despite the resulting increase in secured creditor payments once the attorney was fully paid.
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Court
:
- 11 U.S.C.
In re Hopkins
Jul
10
2007
Ruling
Neither payments nor interest rates for secured debts on "910" vehicles are dependent on original contract but rather determined by plan and Till rate of interest.
Procedural posture
The debtor moved for confirmation of her chapter 13 plan. Creditor filed an objection.
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Court
:
- 11 U.S.C.
Royals v. Massey (In re Denton)
Jun
12
2007
Ruling
Trustee was not liable for overpayments to secured creditors.
Procedural posture
Movant counsel for a bankruptcy debtor asserted that the bankruptcy trustee made errors in disbursing money under a bankruptcy debtor's chapter 13 plan, which resulted in a shortfall of money available to pay counsel's fees under the plan. Counsel moved to hold the debtor in contempt.
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Court
:
- 11 U.S.C.
In re Marshall
Jun
11
2007
Ruling
Till rate of interest, not contract rate, applied to claim secured by motor vehicle purchased just prior to petition date.
Procedural posture
Creditor filed an objection to debtors'proposed chapter 13 plan. In support of its objection, the creditor contended that it was bad faith, per se, for the debtors to have purchase a vehicle 40 days before bankruptcy, fail to make any prepetition payments, and seek to reduce the contract rate of interest in a chapter 13 plan.
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Court
:
- 11 U.S.C.
In re Rodriguez
May
24
2007
Ruling
Modification of confirmed plan denied due to debtor's inability to provide for payment of full value of collateral.
Procedural posture
Debtor moved for an order modifying her chapter 13 plan to change both the classification and the treatment of a creditor's claim therein, which claim was secured by debtor's residence, a manufactured home. By separate motion, the creditor sought an order lifting the automatic stay.
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Court
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