Objection to plan

[soutastan]

I have not had my meeting(8-31) with creditor yet, but got a letter from lienholder of car attorney stating thet they are objecting to proposed plan and have sent my attorney an agreeable plan. Will this stop me from being in Chapter 13 or will they try to take my car? I have not talked to my attorney yet ,just want to see if anyone ever had this happen

[SMinGA]

Does not sound like anything to worry about. Your plan may not call for appropriate interest based on your district's till rate - and if that is the case they'll get a few more dollars per month. Or perhaps the creditor is objecting to having their rate stripped to the till rate, and if that is the case - its too bad for them...

The other thing I can think of: your atty may have submitted your vehicle for a cram down. Meaning you bought it more than 910 days before filing, and now owe more than its worth. Say you owe $15k, its worth $12k. The $12k would be paid as secured (in full, with a little interest) and the $3k would be paid at whatever rate your other unsecured debt gets. If your plan suggests a cramdown, the creditor may be objecting to the valuation? Perhaps they think it is worth more. The valuation method will depend on your district (whether they use KBB, NADA, etc.) and of course the actual condition of your vehicle.