General Finance Co. of Virginia v. Powell (In Re Powell)

HAL J. BONNEY, Jr., Bankruptcy Judge.

In this case of first impression, General Finance Corporation of Virginia [General Finance] objects to the confirmation of the Chapter 13 “Adjustment of Debts of an Individual with Regular Income” plan of James and Pamela Powell [debtors].

The debtors propose to pay their unsecured creditors, of which General Finance is one, fifty percent [50%] of their respective allowed claims. General Finance argues the payment to unsecured creditors should be at least seventy-five percent [75%], otherwise, the plan is not proposed in “good faith” as required by 11…