Matter of Clements

OPINION

STEPHEN B. COLEMAN, Bankruptcy Judge.

FACTS

This case arises out of the Debtors’ reaffirmation of a debt owed to Wood Investment Insurance Company, Inc. This reaffirmation agreement was approved by the Bankruptcy Court after hearing on May 20, 1981, and under the agreement the Debtors were to pay the balance due on a 1977 Chevrolet Malibu. The balance due at that time was $3,520.94. As part of the terms of the reaffirmation agreement, it was agreed that as long as the Debtors continued to make current payments on the obligation they could retain possession of the automobile.

The Debtor,…