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IN RE SCHAFER

Bankruptcy No. 697-63752-frA7.

215 B.R. 205 (1997)

In re Steven J. SCHAFER and Rhonda H. Schafer, Debtors.

United States Bankruptcy Court, D. Oregon.

October 28, 1997.

Attorney(s) appearing for the Case

Rex Daines, Salem, OR, for Debtor.

Janet Stauffer, Dallesport, WA, for Creditor.

MEMORANDUM OPINION

FRANK R. ALLEY, III, Bankruptcy Judge.

I. FACTS

Debtors own a 1993 Nissan automobile, which is security for a loan from Key Bank of Oregon. At the time of the petition the car had a value between $11,250 and $13,000 and the debt to Key Bank was $10,968.

Debtors filed a statement of intent pursuant to Code § 521(2)(A).1 The statement indicated their intention to retain the collateral...

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