Tower Loan of Perryville v. Schroeder (In re Schroeder)
Jun
05
2008
Ruling
Debtors entitled to household goods exemption regardless of noncompliance with terms of security agreement.
Procedural posture
The debtors filed a motion under 11 U.S.C.S. § 522, to avoid creditor's nonpossessory, nonpurchase-money security interest in household goods. The creditor responded by asserting that under 11 U.S.C.S. § 522(f)(4)(A) the Debtors' claim of exemptions was limited to one television and one VCR, and as to the remaining items the security interest could not be avoided. The debtors then filed an amended motion as to only the television and the VCR.
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Court
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