Nuvell Credit Co. v. Callicott (In re Callicott)

Bankruptcy court properly held that negative equity in "910 vehicle" loan was not included in creditor's purchase money security interest.
Procedural posture: 
The appellant, the creditor holding the loan on appellee debtor's motor vehicle, sought review of an order of the bankruptcy court for the Eastern District of Missouri, that found the creditor held only an unsecured claim for the amount of the debtor's negative equity in her trade-in vehicle, which the creditor had added to the debtor's loan on her newly purchased vehicle, under the hanging paragraph of 11 U.S.C.S. § 1325(a).
ABI Membership is required to access the full summary of Nuvell Credit Co. v. Callicott (In re Callicott). 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 12,2008, LexisNexis #1208-086