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§ 1325(a)(5)(C)

In re Sneijder

Jul
02
2009
Ruling
Debtor's surrender of real property in satisfaction of debt was subject to creditor's potential deficiency claim.
Procedural posture

The debtor moved to expunge a secured creditor's proof of claim, where the debtor proposed to surrender the collateral real property in full satisfaction of the loan under her plan proposed under 11 U.S.C.S. § 1325(a)(5)(C). A proposed foreclosure sale for the property to be surrendered was not scheduled for another 90 days.

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Consumer opinion summary, case decided on July 02, 2009 , LexisNexis #0809-024
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DaimlerChrysler Fin. Servs. Ams. LLC v. Miller (In re Miller)

Jun
05
2009
Ruling
Bankruptcy court erred in allowing debtor to surrender vehicle in full satisfaction of debt where state law provided for deficiency.
Procedural posture

Chapter 13 debtors proposed to surrender their vehicle in full satisfaction of the remaining debt to a secured creditor pursuant to 11 U.S.C.S. § 1325(a)(5)(C). The United States Bankruptcy Court for the Western District of Louisiana confirmed the chapter 13 plan over the creditor's objection. the appellate court granted the creditor's request for leave to take a direct appeal from the bankruptcy court.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on June 05, 2009 , LexisNexis #0709-061
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IRS v. White (In re White)

Apr
23
2007
Ruling
Plan confirmation reversal upheld due to debtors'failure to surrender all liened property to IRS.
Procedural posture

In their chapter 13 plan, appellant debtors proposed to satisfy a secured claim held by appellee creditor, the IRS, by surrendering part of the property securing a claim to the IRS and by paying the remaining secured value through the plan. A bankruptcy court affirmed the debtors'petition and plan, but the District Court for the Eastern District of North Carolina reversed. The debtors sought review.

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Court :
Judge or Jurisdiction information not available
opinion summary, case decided on April 23, 2007 , LexisNexis #0607-139
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Capital One Auto Fin. v. Bivins (In re Bivins)

Feb
23
2007
Ruling
Secured creditor could not claim deficiency where debtor surrendered vehicle in full satisfaction of claim.
Procedural posture

Respondent debtor petitioned for relief under chapter 13 and filed a plan for confirmation. Movant creditor, who had provided financing for the debtor's car, objected to the confirmation when the debtor proposed returning the car for satisfaction of the debtor's claim.

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opinion summary, case decided on February 23, 2007 , LexisNexis #0307-120
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In re Fee

Jul
06
2006
Ruling
Court disallowed creditor's secured claim since confirmation order controlled and plan called for debtors to surrender vehicle in full satisfaction of debt.
Procedural posture

Debtors filed a voluntary bankruptcy petition. A creditor, which held a security interest in the debtors'automobile, filed a secured claim. A chapter 13 bankruptcy trustee filed an objection to the creditor's proof of claim.

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opinion summary, case decided on July 06, 2006 , LexisNexis #0806-116
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