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3rd Circuit: cannot include payments on secured debt that will be surrendered

jq26

By jq26,
in Bankruptcy Q and A

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jq26 500 posts and hasn't been banned yet....

jq26

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"A debtor cannot deduct payments on secured debt from his current monthly income under the means test when he intends to surrender the collateral that secures the debt." -In re Naut, 59 Collier Bankr. Cas. 2d (MB) 305, 2008.

Interestingly, not all circuits seem to agree. In re Masella (Ohio) had a different outcome.

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