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IN RE SHERWOOD

Bankruptcy No. 288-03186-A-7.

94 B.R. 679 (1988)

In re Russell Lee SHERWOOD, Darleen Renea Sherwood.

United States Bankruptcy Court, E.D. California.

December 8, 1988.

Attorney(s) appearing for the Case

Russell and Darleen Sherwood, Sacramento, Cal., in pro. per.

Greg Eichler, Sacramento, Cal., trustee.

Peter G. Fetros, Sacramento, Cal., for ITT Financial Services.

MEMORANDUM OPINION AND DECISION

LOREN S. DAHL, Chief Judge.

FACTS

On October 14, 1987, Russell and Darleen Sherwood borrowed $2,747.35 from ITT Financial Services (ITT). As security for the loan, the Sherwoods granted ITT a non-purchase money security interest in various items of personal property. As a condition of the loan, ITT required that the Sherwoods insure the collateral. In compliance with ITT's demand, the Sherwoods purchased a $10,000...

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