James Adeyemi

1 “Household” was listed as a secured creditor in Debtor’s schedules, however Beneficial
Mortgage Company filed a proof of claim, listing the debt as secured. 	By order of this court,
Beneficial Mortgage Company’s claim is now an unsecured claim.
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
at Greenbelt
In re: 	:
James Adeyemi 	: 	Case no. 04-13729-PM
Chapter 13
:
Debtor.
Memorandum of Decision
Debtor filed a Motion to Reconsider Order Denying Motion to Reconsider (the
“Motion”) on July 13, 2005, requesting that the Court reconsider its order denying Debtor’s prior
motion to reconsider the order confirming the plan in this case. For the reasons discussed below,
Debtor’s Motion is denied.
In this case, under the confirmed plan, Debtor is to pay $40.91 for the first twenty-four
months, and $637.00 for the remaining thirty-six months. In addition, Debtor is to make
payments to two secured creditors outside of the plan: “CitiFinancial” ($580 per month) and
“Chrysler Financial” ($486 per month).1 In the Motion, Debtor requests to modify the plan to
pay $40.91 for sixty months.
Date signed July 20, 2005
Entered: July 22, 2005 Case 04-13729 Doc 123 Filed 07/22/05 Page 1 of 2

2
The plan cannot be modified as requested by Debtor. Such a modification would cause
the plan to be underfunded. Under 11 U.S.C. §1325(a)(4), a plan can only be confirmed if the
value of the property to be distributed to unsecured creditors under the plan is not less than the
amount that would be paid to the unsecured creditors if the estate were liquidated under chapter
7. In this case, the record reflects that Debtor has enough equity in his home to require a one
hundred percent payment to unsecured creditors in order to meet the requirements of the
Bankruptcy Code. Therefore, Debtor must make the payments required under the confirmed
plan in order to continue in this bankruptcy case.
In addition, it should be noted that Debtor’s payments to Chrysler Financial are short-
term. Under his contract with Chrysler Financial, payments will end in early 2006. At that time,
Debtor will have an additional $486 each month to put towards his plan payments, easing the
burden of the increased plan payments in months twenty-five through sixty of the plan.
An appropriate order will be entered.
cc: 	Debtor
Chapter 13 Trustee
Office of the United States Trustee
End of Order
Case 04-13729 Doc 123 Filed 07/22/05 Page 2 of 2