IN RE NICHOLS

No. 04-2107.

440 F.3d 850 (2006)

In re: Dwight Nichols and Peggy NICHOLS, Debtors. Americredit Financial Services, Inc., Creditor-Appellant, v. Dwight Nichols and Peggy Nichols, Debtors-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: March 16, 2006.


Attorney(s) appearing for the Case

ARGUED: S. Thomas Padgett, DeBrincat & Padgett, Farmington Hills, Michigan, for Appellant. Charles J. Schneider, Charles J. Schneider P.C., Livonia, Michigan, for Appellees. ON BRIEF: S. Thomas Padgett, DeBrincat & Padgett, Farmington Hills, Michigan, for Appellant. Charles J. Schneider, Charles J. Schneider P.C., Livonia, Michigan, for Appellees.

Before: MERRITT, MOORE, and SUTTON, Circuit Judges.


MERRITT, Circuit Judge.

The instant appeal raises a problem that arises frequently in bankruptcy proceedings. The question before us is whether the Court should permit the modification of a Chapter 13 plan after confirmation pursuant to § 1329 of the Bankruptcy Code, or instead allow the secured creditor to repossess its security, a 1995 Ford truck, because under the modified plan the value of the security will fall faster than the creditor receives payments...

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