Gary Acceptance Corp. v. Napilillo

This is an appeal from an order denying the defendants’ petition under section 72 of the Civil Practice Act to vacate a default judgment entered against them.

Defendants, husband and wife, had given their note to the plaintiff for money borrowed in the sum of $3,300. The note was secured by a chattel mortgage on defendants’ station wagon and by a second mortgage on their home. Defendants paid $570 on the loan and on May 14, 1964, they filed a petition in bankruptcy. The plaintiff on default by defendants repossessed the station wagon and resold it for $1,600, leaving a maximum unpaid balance…