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Asker
Posted almost 3 years ago.

CH7 - at what point in the plan does the lump sum payment occur?

Teri E Johnson
Teri E Johnson, Bankruptcy Attorney - Lynnwood, WA
Posted almost 3 years ago.

There is no "plan" in a Chapter 7. A Chapter 13 involves a "plan." A motion to redeem would be filed while the Chapter 7 is open.

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Asker
Posted almost 3 years ago.

Does CH11 allow for a plan longer than 5yrs?

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Asker
Posted almost 3 years ago.

Walton - this case prompted the CH7 cramdown question: In re: Mark T. Lavelle, et. al (09-72389-478, Eastern District of New York).

Alan D. Walton
Alan D. Walton, Bankruptcy Attorney - Birch Run, MI
Posted almost 3 years ago.

That case did not involve a cram down. It involved a lien strip.

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Asker
Posted almost 3 years ago.

removing a lien, stripping it off....essentially a cramdown right?....

Alan D. Walton
Alan D. Walton, Bankruptcy Attorney - Birch Run, MI
Posted almost 3 years ago.

No. See my original answer. A lien strip means there is no equity whatsoever, and usually refers to second mortgages on real estate, or liens that impair a Debtor's exemption.