This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a cramdown and how does this concept in Chapter 13 bankruptcy cases help the debtor? What is ... (Read 39 times)

iveyjurea

  • Hero Member
  • *****
  • Posts: 555
on: Aug 2, 2018
What is a cramdown and how does this concept in Chapter 13 bankruptcy cases help the debtor? What is the process that the debtor must follow him or herself or through an attorney?
 
  What will be an ideal response?

Question 2

Chapter 11 of the Bankruptcy Code deals with the reorganization of debt and allows debtors to ________ their debt and pay back their creditors.
 
  A) Abandon
  B) Disclaim
  C) Disinherit
  D) Restructure


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

DylanD1323

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Aug 2, 2018
Answer to Question 1

Under Chapter 13, a secured loan may be restructured to reflect the current market value of the property. Cramdown is a bankruptcy power that many use in connection with a car loan where the collateral has depreciated faster than the outstanding loan balance. Under Chapter 13, a secured loan may be restructured to reflect the current market value of the property. The debtor, in his or her repayment plan proposal, will outline how he or she intends to repay the value of the vehicle over the three- to five-year Chapter 13 plan. The bankruptcy court will determine a fair interest rate to apply to the remainder of the cramdown loan. The remainder of the loan or the unsecured portion of the loan will be treated in the same manner as the debtor's other debts.

Answer to Question 2

D


iveyjurea

  • Member
  • Posts: 555
Reply 2 on: Aug 2, 2018
Excellent

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Lyme Disease Concept Map Lyme Disease Concept Map
Gram Stain Concept Map Gram Stain Concept Map
Mastering Bio Chapter 22 Mastering Bio Chapter 22
master biology chapter 22-25 master biology chapter 22-25
Nursing: A Concept-Based Approach to Learning, Volume II, 3rd Edition Nursing: A Concept-Based Approach to Learning, Volume II, 3rd Edition
Ferrante, Chapter 11, Economics & Politics Ferrante, Chapter 11, Economics & Politics
Video: Cytotoxic T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library