What is the Appropriate “Market Rate” in Valuing a ...
In the case, the debtors had financed the purchase of a car with General Motors Acceptance Corporation (GMAC) on an installment contract. The next year they filed a Chapter 13 bankruptcy. Instead of returning the car to GMAC, their plan proposed that they be permitted to keep it and make installment payments at an interest rate of 8%. GMAC was not pleased and objected. The bankruptcy … ................
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