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Chapter 13 Bankruptcy – Cramming Down The Mobile Home

Did you know that in some Chapter 13 bankruptcy cases in Georgia, you only have to pay back the value of the mobile home to a creditor and not the entire balance owed?For many Georgia bankruptcy filers, this can be a huge savings.  For example, let's say you owe $70,000.00 on a mobile home you bought ten years ago.  Now, it is worth at most $10,000.00.  In some bankruptcy cases, it is possible that you will only have to pay back the value ($10,000) and not the balance ($70,000.00).  Many bankruptcy attorneys call this a cram down.To cram down a...

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