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Home / Opinion Digests / Bankruptcy – Plan Confirmation – Auto Loan – 'Hanging Paragraph' (access required)

Bankruptcy – Plan Confirmation – Auto Loan – 'Hanging Paragraph' (access required)

Under the 2005 Bankruptcy Act, including the "hanging paragraph" amendment to Sect. 1325(a), a finance company's claim arising from a purchase money security interest in debtors' 2004 Chrysler van may not be bifurcated into secured and unsecured portions, and debtors' proposed surrender of the van would fully satisfy their liability; the finance company's objection ...