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Newbie Question: Chapter 13 - Cramdown of 910 Motor V=
The original question that was asked, did NOT reference that a proof of claim was filed. Therefore, placing it in the Plan would suffice only.
If the creditor files an objection then this turns into a proof of valuation that is often handled as part of the confirmation hearing itself.
If the creditor files a secured proof of claim, then the trustee is required to pay that claim per that proof of claim unless ordered otherwise -- an a confirmation order itself does NOT suffice. At that time, the debtor must file either an Objection to the claim or a Motion to Bifurcate since the Trustee needs a Court Order that supersedes the validity of the proof of claim.
We can only answer the questions as the facts given are presented. The "what ifs" would lead us into an endless discussion of the complete law.
KEITH ALAN HIGGINBOTHAM
Pedro Mayser, Office Manager
THE LAW OFFICES OF KEITH ALAN HIGGINBOTHAM
255 S. Grand Avenue, Suite #2109
Los Angeles, CA 90012-3045
Phone: 213.620.0176
Facsimile: 213.613.1200
HigginbothamLaw@aol.com
To: cdcbaa@yahoogroups.com
Sent: Sat, Feb 6, 2010 11:22 pm
Subject: [cdcbaa] Re: Newbie Question: Chapter 13 - Cramdown of 910 Motor Vehicle
That was not my experience. I put a cramdown in a CH 13 plan only to be told by the Trustee on the day of the confirmation hearing that I needed to file an objection to the lender's claim. Just putting it in the plan was not sufficient.
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> Nope! Congrats! You are doing it right. The Ch13 plan itself allows you to bifurcate the secured/unsecured part of a non-910 vehicle loan
> (i.e., 910+ days).
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> KEITH ALAN HIGGINBOTHAM
>
> Pedro Mayser, Office Manager
> THE LAW OFFICES OF KEITH ALAN HIGGINBOTHAM
> 255 S. Grand Avenue, Suite #2109
> Los Angeles, CA 90012-3045
> Phone: 213.620.0176
> Facsimile: 213.613.1200
>
> HigginbothamLaw@...
>
>
>
>
>
> -----Original Message-----
> To: cdcbaa@yahoogroups.com
> Sent: Fri, Feb 5, 2010 3:21 pm
> Subject: [cdcbaa] Newbie Question: Chapter 13 - Cramdown of 910 Motor Vehicle
>
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> Debtor has vehicle that is underwater by 20K he bought 3 years ago.
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> I filed Chapter 13 Plan which calls for him to pay secured portion only at 4.75% through Trustee with discharge of unsecured portion.
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> Do I still need to file a Section 506 Motion regarding cramdown of motor vehicle? Or is this something different courtrooms handle differently?
>
> --
> R. Grace Rodriguez, Esq.
> OFF: (818) 734-7223
> CEL: (323) 304-5496
>
> NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
>
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>
The original question that was asked, did NOT reference that a proof of claim was filed. Therefore, placing it in the Plan would suffice only.
If the creditor files an objection then this turns into a proof of valuation that is often handled as part of the confirmation hearing itself.
If the creditor files a secured proof of claim, then the trustee is required to pay that claim per that proof of claim unless ordered otherwise -- an a confirmation order itself does NOT suffice. At that time, the debtor must file either an Objection to the claim or a Motion to Bifurcate since the Trustee needs a Court Order that supersedes the validity of the proof of claim.
We can only answer the questions as the facts given are presented. The "what ifs" would lead us into an endless discussion of the complete law.
KEITH ALAN HIGGINBOTHAM
Pedro Mayser, Office Manager
THE LAW OFFICES OF KEITH ALAN HIGGINBOTHAM
255 S. Grand Avenue, Suite #2109
Los Angeles, CA 90012-3045
Phone: 213.620.0176
Facsimile: 213.613.1200
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