IN RE McVAN

Bankruptcy No. 80-0246G, Adv. No. 82-0246G.

21 B.R. 632 (1982)

In re James P. McVAN and Betty D. McVan, Debtors. BUCKS COUNTY TEACHERS' FEDERAL CREDIT UNION, Plaintiff, v. James P. McVAN and Betty D. McVan, Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

July 14, 1982.


Attorney(s) appearing for the Case

David L. Styer, Newtown, Pa., for plaintiff, Bucks County Teachers' Federal Credit Union.

George A. Priestley, Walder, Martin & Kresman, P.C., Philadelphia, Pa., for debtors/defendants, James P. McVan and Betty D. McVan.

Leonard P. Goldberger, Philadelphia, Pa., Trustee.


OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue presented herein is whether the debt owed by the debtors to a credit union is nondischargeable pursuant to § 523(a)(2)(B) of the Bankruptcy Code ("the Code") as a debt for obtaining money by the use of a materially false statement in writing about the debtors' financial condition on which the credit union reasonably relied and which the debtors made with the intent to deceive. We conclude that the...

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