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In re Clifford Buxcel and Elaine Buxcel

Bankr. No.: 
98-30004
Chapter: 
13
Date of Decision: 
June 17, 1998
Issue: 
(1) Whether Chapter 13 case should be dismissed where Debtors proposed repayment of $27.38 per month, where income was minimal and expenses were understated, and where automatic stay insulated Debtors from possible state court action with large judgment holder? (2) Whether Debtors may declare home exempt where they have no ownership interest in it on the petition date but where they have an executory agreement with foreclosing creditor to repurchase it?
Ruling: 
(1) Confirmation of plan was denied and the case was dismissed. Case and plan were not filed in good faith because Debtors did not come in ready to reorganize. Further, success of plan was improbable based on income and expenses stated and the plan did not meet the best interest of creditors test. (2) Homestead exemption was disallowed because Debtors did not have an ownership interest in the home on the petition date.
Full Bankruptcy Court Decision: