Edward J. Cheetham, Debtor v. Universal C. I. T. Credit Corp., [In the Matter of Edward J. Cheetham, Debtor]

ALDRICH, Chief Judge.

This is, in substance, a continuation of the discussion of the rights of secured creditors who refuse to assent to a wage earner plan filed under Chapter XIII of the Bankruptcy Act, 11 U.S.C. §§ 1001-1086, a subject recently undertaken in First Nat’l Bank v. Cope, 1 Cir., 1967, 385 F.2d 404. In that case the secured creditor filed proof of claim and rejected the plan. The referee confirmed the plan, and entered an order that the creditor be paid monthly, but in an amount smaller than that due under its agreement. The creditor thereupon seized the security. We held that…