Goben v. Corydon State Bank, No. 13-6039 (8th Cir. 2013)
Annotate this CaseDebtor filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code. On appeal, debtor challenged the bankruptcy court's order sustaining the Bank's objection to her claimed exemption in her 2000 Hyundai Tiburon, and ruling that debtor could avoid the Bank's lien under section 522(f) of Title 11 of the Bankruptcy Code. The bankruptcy appellate panel (BAP) agreed with the bankruptcy court that debtor could not claim an exemption under IOWA Code 627.6 where debtor had no equity and had no interest in the vehicle to exempt, and that the Bankruptcy Code provided for no such avoidance. Accordingly, the BAP affirmed the judgment of the bankruptcy court.
Court Description: Bankruptcy Appellate Panel. The value of debtor's vehicle was less than the amount she owed the bank, and since she had no equity, she had no interest in the vehicle she could exempt. [ September 20, 2013
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