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IN RE SMITH

Bankruptcy Nos. 80-1088, 80-1091, 179-00911, 180-00039.

5 B.R. 500 (1980)

In re Philip A. SMITH, Jr., Debtor. In re Jeffery Stephen PIERCE and Mary Kathryn Pierce, Debtors.

United States District Court, C.D. Illinois.

July 10, 1980.

Attorney(s) appearing for the Case

Barry M. Barash & Charles E. Covey, Galesburg, Ill., for Smith and Pierce.

James S. Brannon, Trustee, Peoria, Ill., for Smith.

Barney Olson, II, Galesburg, Ill., for creditor, Public Finance Co. in Smith.

James S. Brannon, Peoria, Ill., for Trustee in Pierce.

DECISION AND ORDERS ON APPEAL

ROBERT D. MORGAN, Chief Judge.

These cases present the question whether federal Truth in Lending claims (and similar consumer claims under state laws) may be allowed as exempt property to debtors under § 522(d)(5) of the Bankruptcy Code, to the extent of any unused portion of amount of the homestead exemption. Debtors here claim such exemptions and have appealed denial thereof by the Bankruptcy Judge.

Debtors rely...

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