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Car Cramdowns May Have Just Gotten Harder!

In one of our cases last week, the local Bankruptcy Court ruled that 506 valuation can not take place in a Chapter 13 plan unless it satisfies three things: 1) Clear and Conspicuous Language, 2) Valuation hearing is set, and 3) Service is made on the creditor just like an Adversary Proceeding under Rule 7004. Stay tuned, more on this blog to be published soon.

Written by Michael G. Doan– Owner of the Carlsbad Bankruptcy Attorney office, Michael not only manages his business, but is also a highly skilled California Bankruptcy Attorney with over 17 years of experience. He specializes in many fields, such as: insolvency, bankruptcy, consumer rights, debt negotiation, creditor collection abuse, estate planning, contracts, real estate, and tax. Michael is currently concentrating his practice solely in Bankruptcy Law and is a Board Certified Specialist in Consumer Bankruptcy Law by the American Board of Certification, one of only fourteen such attorneys in all of California.

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