Georgia Bankruptcy Blog

Georgia Bankruptcy Blog

Tag Archives: 910 vehicle

11th Circuit First To Rule On “Hanging Paragraph” Of Section 1325(a); Negative Equity In “910 Vehicles” Constitutes “Purchase Money Security Interest” That Prohibits Bifurcation Of Claim

By Scott Riddle Posted in Eleventh Circuit Cases
Graupner v. Nuvell Credit Corp. (In re Graupner), No. 07-13657 (11th Cir. August 6, 2008) (click here for opinion).  In a case of first impression at the Circuit level, the Eleventh Circuit Court of Appeals examined the "hanging paragraph" that comes after 11 U.S.C. §1325(a)(9). The basic facts of this case are as follows: Debtor purchased a… Continue Reading

District Court for Middle District Holds Surrender Of “910 Vehicle” Constitutes Full Satisfaction Of Claim

By Posted in Middle District Cases
Jason Braswell of Morgan & Morgan in Athens, Georgia passed along is case of  In re Carter , Case No. 3:07-CV-50, Ch. 13 Case No. 06-30846 (M.D. Ga.) (click here for .pdf), wherein Judge Land affirmed the Bankruptcy Court’s ruling that surrender of "910 vehicles" constitutes full satisfaction of the claim.  This issue has been discussed… Continue Reading

Hanging Paragraph Of §1325 Again; Tenth Circuit BAP Follows “Majority,” Holds That Surrender Of “910 Vehicle” Constitutes Full Satisfaction Of Claim

By Posted in Miscellaneous Cases
On July 5, 2007, the Seventh Circuit held that the "hanging paragraph" of 11 U.S.C. §1325 meant that the secured creditor may assert a deficiency claim after the surrender and liquidation of a "910 vehicle."  This is generally known as the minority position (and the one followed in the ND Ga). See this post for… Continue Reading

Hanging Paragraph Of §1325 Again; Tenth Circuit BAP Follows “Majority,” Holds That Surrender Of “910 Vehicle” Constitutes Full Satisfaction Of Claim

By Scott Riddle Posted in Miscellaneous Cases
On July 5, 2007, the Seventh Circuit held that the "hanging paragraph" of 11 U.S.C. §1325 meant that the secured creditor may assert a deficiency claim after the surrender and liquidation of a "910 vehicle."  This is generally known as the minority position (and the one followed in the ND Ga). See this post for… Continue Reading

Seventh Circuit Follows Minority Position – Hanging Paragraph Of §1325 Allows Creditor A Deficiency Claim After Surrender of Collateral

By Posted in Miscellaneous Cases
In a case that was a direct appeal to the Seventh Circuit Court of Appeals, pursuant to 28 U.S.C. §158(d)(2)(A), the Court held that the "hanging paragraph" of 11 U.S.C. §1325 left lenders with a deficiency claim after surrender of the "910 vehicle."   The Court rejects the majority (?) view that Congress "accidentally gave debtors… Continue Reading

Seventh Circuit Follows Minority Position – Hanging Paragraph Of §1325 Allows Creditor A Deficiency Claim After Surrender of Collateral

By Scott Riddle Posted in Miscellaneous Cases
In a case that was a direct appeal to the Seventh Circuit Court of Appeals, pursuant to 28 U.S.C. §158(d)(2)(A), the Court held that the "hanging paragraph" of 11 U.S.C. §1325 left lenders with a deficiency claim after surrender of the "910 vehicle."   The Court rejects the majority (?) view that Congress "accidentally gave debtors… Continue Reading