The Online Bankruptcy Blog

Although bankruptcy is covered by federal legislation, there are local laws in each state that also need to be addressed. One of these covers what can and cannot be included in the exempt assets component of a bankruptcy petition. There are 16 states that allow petitioners (debtors) to select either state of federal law, the [...]

It’s an interesting expression – cram down, yet it is actually used in relation to a Chapter 13 Bankruptcy petition and a secured car loan. A Chapter 13 petition allows the debtor to propose a payment scheme that would pay off their debts over 3-5 years, particularly if some debts where discharged. Car loans are [...]