Yes, that's right... I said it! Actually working with creditor attorneys, especially when they file responses to your claim objections, objections to confirmation, and possibly even filing motions for relief from stay.
The key here is that if you want a plan that works, and that doesn't anger the automobile creditors (I just learned this one), you sometimes need to negotiate.
While I motioned to have two cars valued, the creditor (same creditor on both vehicles) didn't like the valuation on the 2007. The vehicle was purchased within 910 days, but not for myself, but they didn't want it valued. In the end, I conceded and will not value the vehicle (rather than fight about it).
I was able to get the Interest down from 12.59% to 8% with just saying "How about I just pay 8% in plan and the entire claim?" Their Attorney says... fine!
However, I'll caveat this. They hide behind their legal assistants and paralegals, so it could be difficult reaching them at first. In the end, it seems to work out.
I've successfully stripped a 2nd ($127K), valued one of two vehicles ($12K savings), and successfully disallowed a good number of claims.
In the end, you need to know when to pick you battles and when to surrender! I surrendered on the second vehicle valuation, because they were prepared to fight it in court. I really didn't have a godo argument, so I bowed out of that fight.
Your mileage may vary.
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justbroke started a blog post Working with Creditor AttorneysWorking with Creditor Attorneys
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My husband and I too have filed a ch. 13 pro se (1/8/09). I have a question about the cram down on the vehicles. I know for vehicles purchased over 910 days prior to filing, you can cram down the value & propose the Till rate. However, I just purchased a car in November w/ a huge interest rate (I'm embarrassed to say at 21%). The purchase price was $14530, but the value of the vehicle is only 10045 per Kelly Blue Book. Would I still be responsible for the entire $14530 @ 21% during the plan, or exactly how does this work? Right now, I'm proposing the entire balance $14530 @ the 21% interest rate during the plan. Any help/advice would be much appreciated -- you have no idea how much your posts have helped us during this process! Thanks in advance!
You can change the interest rate over the course of your Chapter 13. You can apply the so-called Till rate, so could easily get it down to 8% or so. I did just that on my vehicle purchased within the 910 days. It's as simple as telling the creditor's attorney that you'll pay the entire balance at 8%.