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Debtor buys a new car for $ 3 0 , 0 0 0 and finances the entire purchase at Chase Bank ( the car is
Debtor buys a new car for $ and finances the entire purchase at Chase Bank the car is the collateral for the loanChase Bank is a secured creditor The car is financed over a sevenyear period. After almost five years, when the car is worth $the cash value of the car and the debtor owes Chase Bank $ Debtor files a petition for Chapter bankruptcy. Assuming in this bankruptcy case, general creditors get cents on the dollar for their claims, how much will Chase Bank get in this Bankruptcy case?
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