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    cramdown question

    we have a tahoe that we are upside down in, the atny we talked to thinks we can do a cramdown.

    Is the amount we "cram down" (have to pay) put into the payment plan, or do we countuine making payments to the car dealer?

    #2
    Originally posted by 95kindebt View Post
    Is the amount we "cram down" (have to pay) put into the payment plan, or do we countuine making payments to the car dealer?
    The "cram down" amount would be put into the Plan. The difference (the "unsecured" portion) would go into the pool of unsecured creditors and would receive a pro rata share of your unsecured distribution.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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