Losieniecki v. Thrift Consumer Discount Co. (In Re Losieniecki)

MEMORANDUM OPINION

JOSEPH L. COSETTI, Bankruptcy Judge.

FACTS

The Plaintiffs filed a Bankruptcy petition under Chapter 7 of the Bankruptcy Code on August 1, 1980. On November 5, 1980 the Debtors filed a petition to avoid liens pursuant to Section 522(f)(1) of the Code. On November 24, 1980 Thrift Consumer Discount Company (hereinafter “Thrift”) filed an answer to the petition and Petitioned for Relief from Stay under Section 362(d). On December 19, 1980 a hearing was held on the Complaint to Avoid Liens. The Plaintiffs presented to the Court an appraisal performed by a real estate company which…