Arizona Bank v. Carroll (In Re Carroll)

OPINION

HERBERT KATZ, Bankruptcy Judge: Before KATZ, HUGHES and LASA-ROW, Bankruptcy Judges.

Under the facts in this case the Arizona Bank held a valid security interest in a pickup truck owned by the debtors herein and valued at $2,400.00. In the court below the debtors applied for a redemption of the truck in installment payments. On January 1, 1981, Judge Maggiore ordered that a redemption under 11 U.S.C. § 722 can be made in installment payments. 7 B.R. 907 (Bkrtcy.).

11 U.S.C. § 722 provides:

“An individual debtor may, whether or not the debtor has waived the right to redeem under this…