8th Circuit Bankruptcy Panel Rules Auto Lender Can't Seek Deficiency in Chapter 13
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Summary
An auto lender was not entitled to assert a deficiency claim in a Chapter 13 case, even though the debtors' vehicle was sold for less than the amount of the debt, the 8th Circuit Bankruptcy Appellate Panel has ruled.
The debtors owed Capital One $20,280 secured by a purchase money security interest in a 2003 Chevrolet pickup truck. They surrendered the vehicle after filing for Chapter 13 protection. Capital One sold the vehicle for $10,363, leaving a deficiency of $9,917.See the full content of this document
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8th Circuit Bankruptcy Panel Rules Auto Lender Can't Seek Deficiency in Chapter 13
Capital One contended that it was entitled to assert an unsecured deficiency claim in...
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