Cram down and so on

[987654]

I filed in mid September, and it involved a cram down of my auto loan to just over half what I owe. Right after I filed they sent a request to my attorney asking for the mileage on the vehicle, and asking if it was still in my possession. The 341 went smooth, and my plan was confirmed in early November. Now it is nearly mid-December and while almost all my unsecured creditors have filed a claim, Capital One Auto has yet to file one. I know they have until mid-January, but it seems odd they haven't yet.

I based the valuation of the truck on blue book/NADA based on the mileage and condition it was in. I think it's fair and certainly comparable to what they would get on the wholesale market, which is what they would get if they repo'd it. In fact they would probably get less that way. Nonetheless, my attorney did say they could file a claim saying the vehicle is worth full market value and we would then argue it, and he was confident that the cram down would be fine. He said if all else failed I would need to take it to a few dealers and get in writing what they would actually pay for it, which, again, I'm sure would be comparable to the figure we put down.

I guess I'm just freaked out they haven't filed a claim yet and wondering if this is normal. I didn't expect the 13 to be so smooth/get confirmed this fast, and don't want any surprises now...

[enginegirl]

My last creditor filed on the bar date .. don't fret, it will all go fine!

[papie]

I wouldn't worry. We filed Chapter 13 in 12/09, 341 was 1/10 and we were confirmed in 2/10. We received the same type of paper in March or April from Chase Auto. It requested to know the condition of the car, if I still had it, and whether or not it was insured. They also made sure they put a big paragraph at the bottom stating they would repo my car if I didn't send the form back to them. Which I knew they couldn't legally do without going through a whole process because the car had an automatic stay placed on it.

Chase Auto didn't file a claim until June, a hearing was scheduled because they submitted it late. I didn't pay much attention to it, it was their ass for submitting it late and no skin off my back. Since I included them in the bk, the trustee held the monthly funds and sent them a large payment after it was all settled.

I contribute it all to the fact that large banks can't manage to get much right these days.