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In re Kell (Case No. 11-71388) 11/17/2011

            The debtors moved to redeem a 2006 Chrysler PT Cruiser which they acquired by means of financing provided to them by C & F Finance Company.  The issue presented was what the proper redemption value of the vehicle was.  Noting that although the evidence would justify a conclusion that the present liquidation value of the PT Cruiser was something less than the scheduled value of that vehicle, the Court concluded that the debtors have admitted that the car’s value as of the petition filing date was $4,575 and that they were bound by such figure for the purpose of the redemption motion.

Date: 
Thursday, November 17, 2011
Category: 
Chapter 7 Issues
Redemption
Valuation
Chapter: 
7