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FREDERICKSON, AGAIN
Monday, November 05, 2007
I had a case on Judge Dow's docket on October 18 dealing with the "projected disposable income" issue. Before either attorney could bring up Frederickson, the judge announced that he was going to follow the holding of Frederickson. Judge Dow also said that he had talked to the other two bankruptcy judges in our district, and that they too were going to follow Frederickson.
This means Chapter 13 plans in our district will need not last 36 or 60 months. Rather, the amount paid to unsecured creditors will be calculated using a 36 or 60 month "multiplier" and once that amount is paid off, along with any secured or priority debts, the case is over.