J&M Securities, LLC v. Moore (In re Moore)

8th Cir. (BAP July 8, 2013 - Appeal from Bankruptcy Court Eastern District of Missouri) - Case No 12-6061
AFFIRMING the bankruptcy court's ruling that a state law exception which allowed the debtor to use a state law exemption for her homestead against a single creditor.
Procedural context:
Creditor appealed a decision from the bankruptcy court granting debtor's motion to avoid judicial lien on her homestead under 11 USC §522(f).
In March of 2005, creditors Caplaco and Dierbergs obtained a judgment against the debtor, Patricia Ann Moore. On June 7, 2006, the judgment was transcribed and created a lien against debtor's home. On July 10, 2006, J&M Securities obtained the judgment and lien by assignment. In January of 2011, debtor obtained a loan from Anheuser-Bush Employees' Credit Union ("ABECU") against her home. On September 6, 2011, Debtor filed her chapter 7 petition. Soon after, she converted to chapter 13 and on February 22, 2012, the bankruptcy court entered an order confirming her plan. At the time the filing, debtor had a consensual lien with ABECU for $108,603.00 with a fair market value of the real property of $143,000.00. Thereafter, debtor filed a motion to avoid J&M's judicial lien under §522(f) The bankruptcy court ruled that §522(f) allowed avoidance of all but $2,198.50 of the lien and granted the motion except to that extent. J&M appealed to the Bankruptcy Appellate Panel.
Kressel, Saladino and Shodeen.

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