In Re Finley

OPINION GRANTING CREDITOR’S OBJECTION TO SURRENDER IN FULL SATISFACTION PROVISION IN DEBTORS’ PROPOSED CHAPTER 13 PLAN

MARCI B. McIVOR, Bankruptcy Judge.

This matter comes before the Court on FME Federal Credit’s (“FME”) objection to confirmation of the Debtors’ Chapter 13 Plan. For the reasons set forth below, FME is entitled to file a general deficiency claim against the Debtors’ Lathrup Village Property, pursuant to 11 U.S.C. § 506(a)(1), to the extent FME is underse-cured. FME’s deficiency claim will share pro rata in any distributions to other unsecured creditors.

I

FACTUAL BACKGROUND

On…