Beneficial Finance Co. of Virginia v. Rodgers (In Re Rodgers)

MEMORANDUM OPINION AND ORDER

H. CLYDE PEARSON, Bankruptcy Judge.

The question presented is whether § 522(f) of The Bankruptcy Reform Act of 1978 allows the Debtor to avoid a creditor’s nonpossessory nonpurchase money security interest in household goods claimed exempt pursuant to the laws of Virginia.

The facts have been stipulated by the parties and are set out as follows:

I. On May 21, 1979, Bonnie Jean Rodgers and her husband executed a promissory note payable to Beneficial Finance Company of Virginia, Inc. in the amount of $2,115.00 and a security agreement which granted Beneficial a security…