In re McCauley

Ruling: 
"910 vehicle" loan was precluded from modifications only to extent of purchase money security interest which did not include negative equity on trade-in.
Procedural posture: 
Debtors filed a motion to confirm their amended plan. A secured creditor filed an objection to confirmation on the grounds that the "hanging paragraph" at the end of 11 U.S.C.S. § 1325(a) prevented the debtors from cramming down the creditor's secured claim on their vehicle pursuant to 11 U.S.C.S. § 506(a).
Issue: 
ABI Membership is required to access the full summary of In re McCauley. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on November 20,2008, LexisNexis #0209-018