In re McCollum
Feb
22
2006
Ruling
Court approved debtor's accelerated lump sum payment proposal to complete the debtor's plan since the proposal was in the best interests of creditors and was made in good faith.
Procedural posture
Debtor filed a Motion For Permission To Sell Property Of Estate. The motion requested authority to sell his home for $37,000. Since the property was unencumbered, debtor was asserting the homestead exemption over the first $25,000 in net sale proceeds. Debtor proposed to pay the remaining proceeds, estimated to be $12,000, to claimants as an accelerated lump sum payment of the amounts due under his plan. The chapter 13 trustee objected.
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Court
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