Giles v. Credithrift of America, Inc. (In Re Giles)

MEMORANDUM

FRANK W. WILSON, Chief Judge.

The debtors, residents of Rossville, Georgia, instituted the present action against Credithrift in the Bankruptcy Court to avoid its security interest in certain of their household goods, furnishings, and appliances. Judge Kelley in the Bankruptcy Court, 9 B.R. 135, ordered Credithrift’s lien avoided. Credithrift has appealed.

Credithrift had a $1,361.95 nonpossessory, nonpurchase-money security interest in various appliances and furniture of the debtors. The Bankruptcy Court held this lien could be avoided under the exemption statute, 11 U.S.C. § 522. In…