UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

MIAMI DIVISION

www.flsb.uscourts.gov

In re:

Chapter 13

Case No.: 1:21-bk-21467-LMI

DAVID ALAN BRIGHT,

Debtor.

____________________________________/ 

OBJECTION TO CONFIRMATION

OF DEBTOR’S PROPOSED CHAPTER 13 PLAN

Secured Creditor, Wilmington Savings Fund Society, FSB, not in its individual 

capacity but solely as Trustee of BCMB1 Trust as serviced by Planet Home Lending, LLC

(“Secured Creditor”), objects to confirmation of the proposed Chapter 13 Plan, and states: 

1. On December 4, 2021 (the “Petition Date”), the debtor, David Alan Bright (the 

“Debtor”), filed its Voluntary Petition under Chapter 13 of the United States Bankruptcy Code 

[D.E. 1] and a proposed Chapter 13 Plan [D.E. 8] (the “Plan”).

2. On February 7, 2022, Secured Creditor timely filed its proof of claim, Claim # 7-

1, (the “Claim”) as to its secured interest in the real property commonly described as 1470 N.W. 

52nd Street, Miami, FL 33142-3830 (the “Property”) and which reflects a total debt claim in the 

amount of $68,558.67 as the subject loan matures on March 1, 2022. 

3. The Plan denotes an intention to retain the Property by proposing to pay the 

Judgment amount of $68,778.48 at 4.25% interest including payments of $422.76 for months 1 

through 4 and $1,335.26 for months 5 through 60. 

4. The Plan fails to provide the correct interest rate of 9.500% pursuant to that 

certain note dated January 31, 2007 and secured by that certain mortgage recorded on February 

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15, 2007 as CFN 2007R0166181, in O.R Book 25370, Pages 3370 – 3376 of the Public Records 

of Miami-Dade County, Florida.

5. Moreover, the Plan appears to include the Final Judgement interest rate pursuant 

to Section 55.03, Florida Statutes. However, the circumstances that are applicable under nonbankruptcy law do not currently apply. Generally, under non-bankruptcy law, Secured Creditor

has the opportunity to limit the time in which the final judgment can be redeemed due to its

ability to proceed with a foreclosure sale. Therefore, the time in which the interest incurs under 

non-bankruptcy law is generally limited. However, the Debtor is proposing to pay the claim 

over five years in this bankruptcy case. Hence, Secured Creditor should be entitled to the 

contractual interest rate due to the delay. Furthermore, the Final Judgment indicates that 

“Thereafter, on January 1 of each succeeding year until the judgment is paid, the interest rate will 

adjust in accordance with section 55.03, Florida Statutes.” The Plan fails to provide for these 

adjustments.

6. At the very least, the interest rate should conform to Till v. SCS Credit Corp., 541 

U.S. 465 (2004). The appropriate rate of interest that should be provided in a Chapter 13 plan to 

compensate the secured creditor for the delay in receiving payments was recently addressed in 

Till. The Debtor has not even attempted to apply the standard applied by the Supreme Court in 

Till. The standard requires the Debtor to establish the national prime rate, adjusted upward for 

the risk of nonpayment. The current national rate is 3.25% adjusted 2% for risk (generally 

accepted risk adjustment) would result in an interest rate of 5.25%.

7. Secured Creditor asserts that the Plan is not in compliance with the requirements 

of 11 U.S.C. § 1325(a)(5) and thus, cannot be confirmed. 

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8. Secured Creditor objects to the proposed Plan and any subsequent proposed plan 

which proposes to pay Secured Creditor any amount less than the total due and owing in the 

amount of $68,558.67, at 9.50% interest for the plan term and payable in equal monthly 

payments over the life of the plan. 

9. Secured Creditor reserves the right to supplement this Objection.

WHEREFORE, Secured Creditor respectfully requests that this Honorable Court sustain 

its Objection to Confirmation, deny confirmation of the Debtor’s proposed Chapter 13 Plan, and 

for any such other relief that the Court deems just and proper.

Dated: February 14, 2022.

Respectfully submitted,

GHIDOTTI | BERGER, LLC

Attorneys for Secured Creditor

1031 North Miami Beach Blvd.

North Miami Beach, FL 33162

Telephone: 305.501.2808

Facsimile: 954.780.5578

By: /s/ Melbalynn Fisher 

Melbalynn Fisher, Esq.

Florida Bar No. 107698

bknotifications@ghidottiberger.com

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CERTIFICATE OF SERVICE

On February 14, 2022, I served the foregoing document described as Objection to 

Confirmation of Debtor’s Proposed Chapter 13 Plan on the following individuals by electronic 

means through the Court’s ECF program:

COUNSEL(S) FOR DEBTOR(S)

Mark S. Steinberg cmcf1000@gmail.com, notices@uprightlaw.com, 

r40877@notify.bestcase.com

TRUSTEE(S) / TRUSTEE(S) COUNSEL(S)

Nancy K. Neidich e2c8f01@ch13miami.com, ecf2@ch13miami.com

U.S. Trustee USTP.Region21.MM.ECF@usdoj.gov

On February 14, 2022, I served the foregoing documents described as Objection to 

Confirmation of Debtor’s Proposed Chapter 13 Plan on the following individuals by depositing 

true copies thereof in the United States mail at North Miami Beach, Florida, enclosed in a sealed 

envelope, with postage paid, addressed as follows: 

Debtor

David Alan Bright

1470 N.W. 52nd Street

Miami, FL 33142-3830

I declare under penalty of perjury under the laws of the United States of America that the 

foregoing is true and correct.

By: /s/ Melbalynn Fisher 

Melbalynn Fisher, Esq.

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