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§ 1325(a)(5)(B)

In re Rives

Ruling
Court valued vehicle as of effective date of confirmed plan.
Procedural posture

The debtors filed a petition for relief under chapter 13 and filed a proposed plan of reorganization. The creditor objected to the valuation assessed for the debtors'vehicle in the confirmation plan.

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opinion summary, case decided on May 04, 2006 , LexisNexis #0606-078

In re Wright

Ruling
Interest rate on secured claims is calculated by the formula approach not by the contractual interest rate approach.
Procedural posture

Creditor had financed the debtors purchase of a vehicle and took a security interest in that vehicle. The creditor objected to confirmation of the chapter 13 plan proposed by the debtors. At issue was whether, under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"), the plan could modify the contractual interest rate applicable to the creditor's secured claim.

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opinion summary, case decided on February 28, 2006 , LexisNexis #0506-004