In Re Sheffield
United States Bankruptcy Court, S.D. Texas
1Opinion of the Court
MEMORANDUM OPINION
MARVIN ISGUR, Bankruptcy Judge.
Background
John and Gloria Sheffield filed a chapter 13 bankruptcy petition on March 6, 2008. On March 17, 2008, they timely proposed a chapter 13 plan and on May 27, 2008, they amended their proposed plan. The Court held a confirmation hearing on June 24, 2008.
The amended plan proposed that the Sheffields would pay $166,680.00 to the chapter 13 trustee over a 60 month term. The initial two monthly payments would be in the amount of $2,575.00. Thereafter, monthly payments would be in the amount of $2,785.00.
The plan provided for payment of the…
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