To redeem collateral, a debtor has to pay the lesser of the collateral's value or the amount of total debt. For purposes of chapter 7 redemption, wholesale value is used as starting point for collateral's value. In this case, loan amounts (including credit card debt) were aggregated due to cross-collateralization language in car notes, but because the total debt exceeded the collateral's stipulated wholesale value, Debtor only had to pay wholesale value of vehicles to redeem them. Remainder of debt is unsecured.Not selected for publication.
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Opinions
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Audrey R. Evans
Despite a letter from Clerk of Court informing him that it was impermissible to file pleadings on behalf of another attorney, Debtors' attorney continued to do so. Accordingly, he is ordered to show cause regarding his multiple failures to abide by the Administrative Procedures for Electronically Filed Cases and Related Documents, as adopted by General Order 19. Not selected for publication.
Plaintiff-Trustee's Motion for Summary Judgment granted. The Court found that Defendant-Creditor's filing of the financing statement with circuit court clerk where Debtor resided was an ineffective method for perfecting a security interest interest in Debtor's all-terrain vehicle (ATV). For effective perfection of a security interest in an ATV, Arkansas law requires that the lien be noted on the certificate of title. Not Selected for Publication. Available at 2003 WL 21698752 (Bankr. E.D. Ark. 2003).
Complaint to determine amount of child support arrearage dismissed for failure to state a claim upon which relief may be granted. Child support obligations are non-dischargeable, and the Court cannot enter an advisory opinion regarding the amount of the child support obligations; rather, the Debtor must seek that relief in the appropriate state court.Not selected for publication. Available at 296 B.R. 808 (Bankr. E.D. Ark. 2003).
Order to Show Cause why Debtor should not be held in criminal contempt for violating prior order.
Extraordinary relief of retroactive annulment of automatic stay and ratification of foreclosure sale warranted where Debtor repeatedly abused the bankruptcy code through ten bankruptcy filings, the most recent of which was in violation of a prior court order prohibiting further filings. In re Webb, 294 B.R 850 (Bankr. E.D. Ark. 2003).
Relief from automatic stay granted as to Debtor's real estate where creditor complied with requirement of Arkansas Statutory Foreclosure Act, despite Debtor's alleged lack of actual notice of the foreclosure sale.Not selected for publication. Available at 2003 WL 21540996 (Bankr. E.D. Ark. 2003).
Creditor's Motion for Relief in rem From the Automatic Stay granted in part as to real property of Spouse and Debtor, even though co-owner Spouse was not a party to this proceeding, where Debtor and Spouse have alternated in filing bankruptcy petitions for the purpose of thwarting foreclosure, for a total of 6 petitions within 6 years. The in rem Order held that the filing of a future bankruptcy petition by any individual or entity will not extend the protection of the automatic stay of 11 U.S.C. 362(a) to the subject real property for a period of six (6) months from the date of entry of the Order. In re Roeben, 294 B.R. 840 (Bankr. E.D. Ark. 2003). (See Order)
Where debtor-creditor relationship is not at issue (such as in the claims allowance process), Debtor is entitled to jury trial on issue of whether creditor converted and damaged her personal property; however, Debtor has no right to jury trial on issue of whether creditor violated the automatic stay. In re Patricia Quarles v. Wells Fargo Home Mortgage, Inc., 294 B.R. 729 (Bankr. E.D. Ark. 2003).
Motion for refund of filing fee denied where second duplicate bankruptcy case filed three months after first bankruptcy case, and motion to dismiss second case filed 12 days after second bankruptcy filing. Not Selected for Publication. Available at 2003 WL 21403732 (Bankr. E.D. Ark. 2003).