Bankruptcy court did not abuse discretion in approving Chapter 13 debtors’ modified plan that permitted delay in payments on secured auto loan, thereby purportedly allowing collateral value of vehicle to fall faster than lender would receive payment; auto lender already had received significant payment on amounts owed, value of underlying lien was not destroyed and delay in payments would not impair lender’s lien rights.
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Posted on Friday, April 21st, 2006. Filed under: Business Law, Law Misc
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