Bankr. No.:
03-50141
Chapter:
13
Date of Decision:
March 9, 2006
Issue:
Whether Debtors’ motion to sell their home and their motion to obtain credit should be granted where Debtors wanted to sell their present home, complete the plan payments, and buy a new home where Debtors’ monthly mortgage payment would increase by about $375, where unsecured creditors were only receiving about a 21% payment on their claims, and where it was unclear how and when disposable income due under the plan would be paid?
Ruling:
Both motions were denied. Debtors could not justify an increase in their housing expense and unsecured creditors would be deprived of disposable income.
Full Bankruptcy Court Decision:
