Bankruptcy plan Cram Down of Auto Claim
If you purchased your vehicle at least or more than 910 days prior to filing a Chapter 13 Bankruptcy then the auto claim should be paid at value instead of claim amount, whichever is less. This will allow the remaining balance of this claim to be provided as unsecured deficiency in your bankruptcy plan.
This will allow you to receive the title to the vehicle upon discharge of Chapter 13 bankruptcy and the unsecured deficiency balance will be discharged.
However if you attempt to trade the vehicle during your bankruptcy then you must pay the full amount of the balance owed on the claim, not the cram down balance in the bankruptcy plan.
Consult with your attorney before considering the sale or trade of the vehicle.
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