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Cramdown in Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is also known as a wage earner's bankruptcy. It enables individuals with a regular income to develop a plan to repay all or part of their debts. Under this type of bankruptcy, the debtor proposes a repayment plan to make installments to creditors over three to five years. If the court approves the plan and if the debtor makes all the payments required under the plan, the debtor receives a discharge of most remaining debts.

One unique advantage of Chapter 13 is the cramdown provision. Cramdown is available in very few other situations outside of bankruptcy. The cramdown provision allows you to "cram down" certain secured debts, such as your mortgage or car loan, to their value as collateral - no matter how much you actually owe on them.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start so FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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