In re Wall
Sep
17
2007
Ruling
Bifurcation of debt precluded as inclusion of negative equity in financing does not destroy purchase money security interest status.
Procedural posture
This matter was before the court on a creditor's Objection to Confirmation of the debtors'chapter 13 plan. That plan proposed to bifurcate the creditor's secured claim in the debtors'recently purchased car because as part of the purchase, the creditor financed the "negative equity" in the debtors'trade-in vehicle.
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Court
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