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IN RE PRICE

Nos. 07-2185, 08-1022.

562 F.3d 618 (2009)

In re Telephius Letoinne PRICE; Shawana Denise Price, Debtors. Wells Fargo Financial Acceptance, Plaintiff-Appellant, Telephius Letoinne Price; Shawana Denise Price, Debtors-Appellees. GMAC, LLC, Amicus Supporting Appellant, Ingrid M. Hillinger; Michael Hillinger; Adam J. Levitin; Michaela M. White; Jean Braucher; National Association of Consumer Bankruptcy Attorneys, Amici Supporting Appellees. In re Telephius Letoinne Price; Shawana Denise Price, Debtors. Wells Fargo Financial Acceptance, Plaintiff-Appellee, Telephius Letoinne Price; Shawana Denise Price, Debtors-Appellants. Ingrid M. Hillinger; Michael Hillinger; Jean Braucher; Adam J. Levitin; National Association of Consumer Bankruptcy Attorneys; Michaela M. White, Amici Supporting Appellants, GMAC, LLC, Amicus Supporting Appellee.

United States Court of Appeals, Fourth Circuit.

Decided: April 13, 2009.

Attorney(s) appearing for the Case

ARGUED: David G. Epstein, Haynes & Boone, L.L.P., Dallas, Texas, for Wells Fargo Financial Acceptance. William Earl Brewer, Jr., Raleigh, North Carolina, for Telephius Letoinne Price and Shawana Denise Price. ON BRIEF: Pamela P. Keenan, Kirschbaum, Nanney, Keenan & Griffin, P.A., Raleigh, North Carolina, for Wells Fargo Financial Acceptance. Barkley Clark, Katherine M. Sutcliffe Becker, Stinson, Morrison, Hecker, L.L.P., Washington, D.C., for Amicus Curiae GMAC, L.L.C. Michael R. Totaro, Totaro & Shanahan, Pacific Palisades, California, for Amici Curiae Ingrid M. Hillinger, Michael Hillinger, Jean Braucher, Adam J. Levitin, and Michaela M. White. Tara Twomey, National Association of Consumer Bankruptcy Attorneys, San Jose, California, for Amicus Curiae National Association of Consumer Bankruptcy Attorneys.

Reversed and remanded by published opinion. Judge WILKINSON wrote the opinion, in which Judge KING and Judge GREGORY joined.

OPINION

WILKINSON, Circuit Judge:

This appeal involves the application of the "hanging paragraph" in Chapter 13 of the Bankruptcy Code. See 11 U.S.C. § 1325(a). That paragraph prevents the bifurcation (or "strip-down") of a secured claim when the creditor has a "purchase money security interest" in a motor vehicle acquired for the debtor's personal use within 910 days of the debtor's bankruptcy filing. Id. In this case, we must decide...

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