Johnson v. Sun Finance Co.

On appeal is the district court’s upholding of the ruling by the bankruptcy court that the debtors William T. Johnson, Jr., and Marilyn A. Johnson must, under 11 U.S.C. § 521, state their intention with respect to a certain camcorder, a secured consumer good, to either surrender the property or retain it and, if the latter is chosen, to advise whether they: (1) claim that the property is exempt, (2) will redeem the collateral, or (3) will reaffirm the debt. On the facts as found and the reasons assigned by the bankruptcy court in its Reasons for Order dated May 3, 1995, a copy of which is…