Frederick v. America's First Credit Union (In Re Frederick)

OPINION

CLIFFORD FULFORD, Bankruptcy Judge.

This cause is before the Court on the Debtors’ complaint and subsequent motion for summary judgment contesting the Defendant’s setoff of the Debtors’ credit union deposit. Jurisdiction lies pursuant to 28 U.S.C. § 1334. This matter is a core proceeding. 28 U.S.C. § 157(b)(2)(E).

The facts are uncontested but incomplete. On October 2, 1985, the Debtors had $207.00 on deposit with the Defendant and also maintained a MasterCard account with the Defendant. There was at that time an outstanding, unpaid balance on the MasterCard account. 1 On the same date,…