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05
Nov
2020

Chapter 13 Confirmation Denied

Here,  the court denied confirmation of a Chapter 13 bankruptcy repayment plan when the unsecured creditors would have received more under a Chapter 7 bankruptcy.

The court found that the best interest of creditors would not be supported in this Chapter 13 case, since those creditors would receive greater repayment in a Chapter 7 case.  Here, the unsecured creditors in a Chapter 7 case would receive about $3,500.00.

The debtor was given additional time to file amended financial statements and an analysis as to the repayment to creditors under a Chapter 7 case. Confirmation denied.  In the Matter of Ronald Foulk, 134 B.R. 929.

Author: Charles R. Harroun, Attorney at Law



This entry was posted on Thursday, November 5th, 2020 at 8:42 am and is filed under Bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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