MEMORANDUM
JOHN C. MINAHAN, Jr., Bankruptcy Judge.
The issues before the court are whether a lien held by Sears, Roebuck and Company is secured or unsecured and whether the lien may be avoided under 11 U.S.C. § 522(f) as a non-purchase money, non-possessory security interest in exempt property. I conclude that Sears' lien is secured and that the lien may not be avoided. Sears has successfully developed a structure for its consumer financing which preserves...
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