Creditor Gets Deficiency Claim After Collateral Surrender

Posted on January 16, 2010 Written by

10th CIRCUIT ‘RULES’
In re Rule, Case No. 06-22145
July, 2008, Judge Berger

Judge Berger followed In re Ballard 526 F. 3d 634 (10th Cir. 2008), in finding that a 910 car loan may have a deficiency balance after sale of the vehicle. [Read more...]

Filed Under: Chapter 13, Court Rulings, Vehicles Tagged: , , , , , , , , , , , , ,

910 Car Claims Get Interest

Posted on January 15, 2010 Written by

SURRENDER IN FULL SATISFACTION OF 910 AND PAYMENT IN FULL
WITH NOT INTEREST NOT ALLOWED
In re McClay, Case No. 07-20106
October 2008, Judge Berger

910 vehicle case. Plan provided for payment of full debt with no interest and option to surrender in full satisfaction. This was found to be an attempt to modify prospectively and Court opined that 1329 would have to be used. Court followed 10th Cir. In re Jones, 530 F3d 1284, (10th Cir. 2008). Debtor must pay interest. In re Ballard, 526 F3d 634 (10th Cir. 2008) holds that deficiency must be provided for if vehicle is surrendered. [Read more...]

Filed Under: Chapter 13, Court Rulings, Vehicles Tagged: , , , , , , , , , , , , , , , , , , , , , ,

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