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IN RE OLSON

Bankruptcy No. 185-02481.

80 B.R. 935 (1987)

In re Gerald L. OLSON and Merlene L. Olson, Debtors. The TRAVELERS INSURANCE COMPANY, Petitioner, v. Gerald L. OLSON and Merlene L. Olson, Respondents.

United States Bankruptcy Court, C.D. Illinois.

December 23, 1987.

Attorney(s) appearing for the Case

Barry M. Barash, Galesburg, Ill., for debtors.

David B. Radley, Peoria, Ill., for creditor.

OPINION

WILLIAM V. ALTENBERGER, Bankruptcy Judge.

The Debtors are farmers. Their schedules show they owe three secured creditors $481,411.00 and one unsecured creditor $100,000.00. The schedules also show farm land valued at $265,152.00 and personal property valued at $58,200.00. The claim of The Travelers Insurance Company, (CREDITOR) arises out of two loans to the Debtors. The first loan was in the original amount of $160,000.00 secured by first mortgage...

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