- 11 U.S.C.
DaimlerChrysler Fin. Servs. Americas LLC v. Quick (In re Quick)
Jul
05
2007
Ruling
Bankruptcy court properly held that surrender of vehicle subject to hanging paragraph barred claim for deficiency.
Procedural posture
Chapter 13 debtors proposed a plan whereby they would each surrender a vehicle purchased with purchase-money financing by a secured creditor within 910 days preceding the date of the filing of the petition. The bankruptcy court ruled that the surrender operated as full satisfaction of the secured creditor's claim, thereby precluding the filing of an unsecured claim for a deficiency, pursuant to the "hanging paragraph"of 11 U.S.C. § 1325.
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