§ 506(a)(1)

In re Peaslee

Debtor filed a chapter 13 plan. A creditor objected because it did not provide for its Secured Claim to be paid in full in accordance with the 11 U.S.C. § 1325(a)(9) Hanging Paragraph. The trustee filed a Motion which requested that the court, pursuant to 11 U.S.C. § 506(a)(1), determine that the creditor had an allowed secured claim for the $10,950 retail value of debtor's vehicle and an unsecured claim for the balance of the secured claim.
Claim could be bifurcated where it included amounts not secured by purchase money security interest in motor vehicle.
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