A “cramdown” in a Chapter 13 bankruptcy allows you to reduce the principal balance of a debt to the value of the property it is secured by. By taking advantage of a Chapter 13 cramdown, you may be able to save your car, investment real estate, or certain other properties. You are allowed to cram […]
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A secured debt is one that is secured by property, which the creditor can take if you default. For example, your mortgage is secured by your home. If you default on your loan, the lender can sell your home to repay your debt. A car loan is also a secured debt. In addition to these […]
A secured debt is one that is secured by property, which the creditor can take if you default. For example, your mortgage is secured by your home. If you default on your loan, the lender can sell your home to repay your debt. A car loan is also a secured debt. In addition to these voluntary […]