Depositors Trust Co. of Eastern Maine v. Nichols (In Re Nichols)

MEMORANDUM OPINION

CONRAD K. CYR, Bankruptcy Judge.

Depositors Trust Company of Eastern Maine [Depositors] requests a determination as to the dischargeability of an automobile loan indebtedness. On or about July 18, 1979, the debtor applied for an obtained approval of a $500 creditline account, a checking account overdraft privilege. Approximately one week later, the debtor obtained approval of a $500 increase in the creditline account. Within a few days, the debtor approached the same bank officer for a $4,650 loan with which to purchase a 1979 Oldsmobile Cutlass and presented a Buyers Order…