In Re Walters

OPINION

KENNETH J. MEYERS, Bankruptcy Judge.

Debtor filed a chapter 13 bankruptcy petition on April 26, 1996. General Motors Acceptance Corporation (GMAC), the only secured creditor in this case, filed a claim for $10,723.69. The collateral securing GMAC’s debt is a 1995 Chevrolet Cavalier. Debtor’s five-year plan provides that GMAC will retain its hen and will be paid the value of its collateral plus nine percent interest. The parties appear to agree that the value of the car is $10,600.00.

GMAC objects to confirmation of debtor’s plan on the basis that the plan fails to provide adequate…