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IN RE SIMMONS

Bankruptcy No. 682-00695-D, Adv. No. 682-0374.

27 B.R. 508 (1983)

In re Donald Ray SIMMONS & Melba Diane Simmons, Debtors. Donald Ray SIMMONS and Melba Diane Simmons, Plaintiffs, v. PEOPLES BANK OF DANVILLE, Defendant.

United States Bankruptcy Court, W.D. Virginia, Danville Division.

February 18, 1983.

Attorney(s) appearing for the Case

Lewis E. Goodman, Jr., Danville, Va., for plaintiffs.

J. William Clement, Danville, Va., for defendant.

Stephen G. Bass, Trustee.

MEMORANDUM OPINION

WILLIAM E. ANDERSON, Bankruptcy Judge.

On October 10, 1979, Donald and Melba Simmons (Debtors) obtained a loan from Peoples Bank of Danville (Bank). As part of this transaction the Debtors executed a Security Agreement which stated in pertinent part that:

As collateral security for the payment of this note and any other liability, contingent or otherwise (including overdrafts) of the makers, guarantors, endorsers and any other...

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