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Bankruptcy Keyed to Bussel, 12th Ed.
Ransom v. FIA Card Services
Citation:
131 S. Ct. 716 (2011)Facts
Jason Ransom filed for Chapter 13 bankruptcy relief in July 2006, listing over $82,500 in unsecured debt, including a claim held by FIA Card Services. Among his assets, Ransom listed a 2004 Toyota Camry valued at $14,000, which he owned free and clear of any debt. In calculating his disposable income under the means test, Ransom reported monthly income of $4,248.56 and claimed monthly expenses of $4,038.01, which included a car-ownership deduction of $471 (the full amount specified in the IRS’s “Ownership Costs” table) and a separate deduction of $338 for car-operating costs. Based on these figures, Ransom’s disposable income was $210.55 per month. He proposed a 5-year plan that would result in repayment of approximately 25% of his unsecured debt. FIA objected to confirmation of the plan, arguing that Ransom should not have claimed the car-ownership allowance because he did not make loan or lease payments on his car. FIA noted that without this allowance, Ransom’s disposable income would increase by $471 per month, resulting in approximately $28,000 more available for creditors over the 60-month plan.
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