The issue in Jackson was whether the plan submitted by Debtor sufficiently protected Cash America’s rights as a creditor

The issue in Jackson was whether the plan submitted by Debtor sufficiently protected Cash America’s rights as a creditor

In In re Jackson, 133 B.R. 541 (Bankr. W.D.Okla.), the collateral of two pawn transactions were still subject to redemption on the Petition Date, as in the instant case. The collateral was held to be part of the bankruptcy estate. Cash America did not dispute this fact.

The Court finds that to answer the question of whether the bankruptcy court erred, as a matter of law, in holding that a debtor’s contractual right to redeem pawned property from a Texas pawn shop can be modified in a Chapter 13 proceeding it must consider the next issue raised by Appellants, that is, the propriety of the application of automatic stay provision. Continue reading