Legal News for Credit Union Managers Since 1990

Archive for December, 2010

03
Dec
2010

Cram Down – Chapter 13 Valuation

Here, a secured creditor objected to confirmation of debtors’ Chapter 13 plan, contending that the value assigned to a car, in which creditor held a security interest, was too low. The debtors valued their vehicle at $3,500 and proposed to “cram down” this value to the secured lender, who was owed more than $11,000. Secured […]

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