4th Circuit Says Trade-In's 'Negative Equity' Preserved in Bankruptcy
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Summary
The "negative equity" that debtors owed for a trade-in vehicle must be treated as a secured claim in their bankruptcy case, the 4th Circuit has ruled in reversing judgment.
The debtors filed for Chapter 13 protection owing $18,300 under a financing agreement for the purchase of a 2001 Lincoln LS.See the full content of this document
Extract
4th Circuit Says Trade-In's 'Negative Equity' Preserved in Bankruptcy
Part of the amount owed included approximately $2,800 in "negative equit...
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