In Re Henry

MEMORANDUM AND ORDER

PAUL E. JENNINGS, Bankruptcy Judge.

The issue before the court is whether a Chapter 13 plan which proposes to pay nothing or de minimus amounts to unsecured creditors is a plan filed in “good faith” as that term is used in 11 U.S.C. § 1325(a)(3). 1

Debtor lists only one creditor. That creditor is owed, according to the schedule $804.91. Debtor’s plan proposes to pay 10% of the debt at the rate of $25.00 per month. Excluding administrative expenses the plan would pay out in four months. The creditor CIT Financial Services, Inc. objects to confirmation on the ground “the plan…