In re Allen
Apr
09
2010
Ruling
Consolidation and renewal of 910 vehicle loans destroyed purchase money security interest character of debt and removed loans from protection of hanging paragraph.
Procedural posture
After a confirmation hearing on the debtors' proposed Chapter 13 plan, the court took under advisement the issue of whether the debtors' loan from a creditor that renewed and combined prior loans destroyed the loan's purchase money security interest (PMSI) character, therefore removing it from the protections of 11 U.S.C.S. § 1325's hanging paragraph.
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Court
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