Super Chief Credit Union v. McCoy

Meyer, J.:

This is an appeal from a decision denying plaintiff-creditor (appellant) judgment on one of two alleged debts.

Appellant is a credit union which advanced sums of money to appellee under an open end agreement prior to March 27, 1974. Appellant secured the debts by taking appellee’s 1968 Plymouth automobile and a mobile home as security.

On March 27, 1974, appellee filed a petition in bankruptcy and on April 10, 1974, appellant filed proof of secured claim in bankruptcy. On May 15, 1974, the mobile home which partially secured the debt was destroyed; appellant sold the remains, received…