Mitchem v. Branch Banking & Trust Co. (In re Mitchem)
Apr
01
2011
Ruling
Note partially secured by equity in debtor's property could not be avoided.
Procedural posture
Chapter 13 debtors filed complaints against defendant creditor seeking to have a note declared to be unsecured under 11 U.S.C.S. § 506(a) and to have the note avoided under 11 U.S.C.S. § 506(d). The debtors contended that the value of the property was less than the amount owed on a promissory note and first deed of trust.
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Court
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