Christopher J. Foley and Elizabeth A. Foley

of
IN THE UNITED STATES BAJJKRUPTCY COURT
FOR THE EASTERN DISTRICTOF PENNSYLVANIA
IN RE: : BANKRUPTCY NO. 09.13769(SR)
CHRISTOPHER J. FOLEY and
ELIZABETH A FOLEY : CHAPTER 13
Debtors :
STIPULATION RESOLvkNG GMAC'S
MOTION FOR RELIEF FROM THE AUTOMATIC STAY
THIS .MATTER having been brought before t^e Court on a Notice of Motion for Rslief
From the Awomatlc Stay Pursuant to 11 U.S.C. §362(d) by Lavin, OlSfeil. Ricoi, Cedrone &
DiSipio, attorneys for GMAC and Carol B. Mc(2ullougI% Esquire, attorney for debiors,
Christopher J. Foley and Elizabeth A Foley (coUectiycIy, the "Debtors"), having coflsentwl to
the entry of the within Order, and for good cause showh;
AND NOW COMES GMAC, t^ and through tfwff counsel, and state as follows:
(a) The debtor, Christopher J. Foley (the 'pebtoi") fiaaftced the purchase of a 2i)03
CMC Envoy, VIN: 1GKET16S636141589 (the "Vellicle") pursuant to the tenns of a Rjstail
Installment Sale Contract dated May 25. 2007 (the i"Contract") which has been assigned to
GMAC. )
(b) Pursuant to the Contract, GMAC m a i n t ^ a perfected security interest in and to:
(a) the V<^ole; (b) accassocies. equipment and teplaceUent parts installed in the Vehicle; and (o)
service contracts on the Vehicle. j
(o) Ttie Debtor desires to retain possession of the Vehicle and provide adeqmrte
i
protection for GMAC'S interest in the Vehicle.
NOW THEREFORE, in consideration of the aljove. GMAC and the Debtor STlPULA^nE
AND AGREE as foUows: j
1. As of add including the September 24, ?009 due payment, the Debtor's account is
inpost-petitbn arrears mtbe amount of $1,255.02.
Of)
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a
% The Debtor shall cure the post-petitbn m e m in the amount of $1,255.02 ov<!r six
(6) monAs by paying an additional payment of $209,117 atong with the regular monthly payment
in the amount of $418.34 for a total of $627.51 beginnmg with the October 24, 2009 due
payment and continuing through and mcludiog tiie Match 24,2010 due payment Said payments
shall be made payable to GMAC in ccrtiffed funds or money order. Said payment shall be
forwarded to: GMAC Payment Processing Center. P.oJ Box 78252, Phoenix, AZ 85062-82S;>..
3. Debtor diall make the October 24, ^009 regular monthly payment and cure
pajment on time and all fiiture payments in a titnely nianoer. Said payments shall be forwarded
to: GMAC Payment Processing Centw, P.O. Box 7825&, Hioenh, A2 85062-8252.
4. The Debtor hereby agrees to maintai|i insurance coverage in such types (ind
amounts as are required by the Cotda^ until such tijRie as all amounts due GMAC under nhe
Contract are paid in fall.
5. Debtor ^ 1 1 resume making regu]a]| payments in the amount of $418.34
ooitraencitig with the payment due April 24,2010. \
6. GMAC is awarded counsel fees m the> amount of $500.00 to cover the costs of
JSling the motion and attotney*s fees. Counsel fees ishall be made payable directly to Lavin,
O'Neil In the amount of $125.00 each for four (4) mo]^hs with the 1* payment of $125.00 bekg
doe on October 31, 2009, the 2"* payment of $12400 due on November 30, 2009, the 3'**
payraetrt of $125.00 being due on December 31,2009iand the 4* payment of $125.00 being due
on January 31, 2010. Please mail to Lavin, O'Ne^ Ricci, Cedrone & DiSqjio, 190 Nortb
Independence Mall West, Suite 500, 6* & Race Striets, Philadelphia, PA 19106, Attention:
I
Laura Galte, Esquire.
7. If Debtor fells to comply with any of thb stipulated terms herein, or if Debtor feiUi
to make payments within fifteen (15) days of due da^, GMAC may be granted relief from th«
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automatic stay with respect to the Vehicle upon filing a Certification, of Counsel that Debtoi- is in
de&ult, together with a proposed Order to the BankruptcK Court, and serving copies ofthe same
upon the Trustee, Debtor and Debtor's counsel.
8. This Stqjulation may be executed by &cslmile and such &csimile signatures shall
be deemed as origmals.
9. The signature pages of this Stlpulatioii may be executed in counterpart a^.i;l all
such signature pages, when attached, shall become pad of the otiginal Stipulatioa
CONSENTED TO BY:
DATED:
OBY: ,
CONSENTED TO BY:
DATED: j O f l ^ / t T ^
SO ORDERED:
ENTERED ON: /0//V/cy9
fLAlljJ^
lOLB, MCCULLOUGH, ESQUIRE
ii^omey for flw Ddjtors
STEPfiENl^LAVICH ^
united States Bankruptcy Judge
1265227V1
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