Special Report on
Bankruptcy Car “Cram-Down” Rules
Bankruptcy Car “Cram-Down” Rules - Trends
Latest Trending Story:
There are plenty of unknown issues surrounding the potential cramdowns of first mortgages as the government considers ways to try to pull the economy out of the tailspin brought on by the credit crunch, sharply declining real estate values and growing foreclosures. “Cramdown” refers to provisions in current legislation that would allow bankruptcy judges to adjust the terms of mortgages on primary residences for distressed borrowers. One of the biggest questions is the valuation of the portfolios containing those debts, said Dan North, chief economist at Euler Hermes ACI, a trade credit insurance firm. “How ...
If, like many debtors I meet with, your car is underwater, then you will want to consider your options regarding retention or surrender of the vehicle. In a chapter 7 bankruptcy, this is a pretty easy decision — you can keep the car and continue making payments, or you can surrender the car and discharge any obligation for a deficiency. In chapter 13, however, there is a third option that might make sense. In a chapter 13 bankruptcy, the debtor has the ability to reduce the amount of secured loans on certain property in the confirmation of their chapter 13 plan. That “ lien stripping ” ... Read More
SURVEY RESULTS FOR
BANKRUPTCY CAR “CRAM-DOWN” RULES
Wisconsin Bankruptcy Blog (2/16, Pt. 2) How are debts ...
California: on the edge of bankruptcy