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The value of the Ford Thunderbird was not stipulated by the
parties. The Appeals officer referred to the Internet National
Auto Dealers of America Guide for classic cars to arrive at a
forced sale value of $11,008 for the automobile in “deteriorated
restoration” condition. Petitioners argue that the Ford
Thunderbird is “junked” and only worth between $2,200 and $4,000.
The Appeals officer determined that an appropriate offer
amount approached $46,000, or approximately petitioners’ net
income for 48 months plus respondent’s valuation of the Ford
Thunderbird. Negotiations between the Appeals officer and
petitioners’ counsel suggested the parties were too far apart to
reach an acceptable compromise. The Appeals officer pointed out
that petitioners’ future earnings from the insurance business,
interest in the Ford Thunderbird, and increased personal
expenditures did not warrant acceptance of the $2,000 OIC. The
Appeals officer also offered to suspend collection activities for
1 year to provide petitioners the opportunity to adjust their
finances and reduce expenses. Petitioners’ counsel declined the
offer.
Petitioners contend in their Motion that respondent failed
to consider Mr. Alaniz’s advanced age, ill health, and declining
income from the insurance business. Petitioners argue that the
Appeals officer’s calculations were unreasonable and rejection of
the $2,000 OIC was an abuse of discretion.
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Last modified: May 25, 2011