In re Toliver

G. Michael Halfenger, Chief United States Bankruptcy Judge

I

In April 2014 debtor Victoria Toliver borrowed about $20 thousand to finance her purchase of a 2011 Buick Regal. Toliver agreed to repay the principal with interest in 72 monthly payments and granted the seller a security interest in the Buick, which the seller assigned, with the rest of its interest in the agreement, to Consumer Portfolio Services Inc. (CPS). Thirty-three months later Toliver filed this case under Chapter 13 of the Bankruptcy Code.

CPS filed proof of a claim for about $13,375 secured in the amount of $11,525 (the…