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ynotc1 · Joined: 28 Jan 2011 Posts: 1 1.32 Dollars($)

I'm currently in the process of a Chapter 13, I have 3 rental properties I'm trying to protect, 1 paid off 2 have mortgages all rented, I asked my attorney, if the cramdown option could benefit me here in Alabama and he said that this option was not available here in this state, Is that true?If not Chapter 7 will be my only alternative, but I know I will lose the property that I own out right to liquidation

adonis · Posted: Fri Jan 28, 2011 10:56 pm Post subject:

Hi ynotc,

The laws regarding bankruptcy may vary from one state to another. As your lawyer has said that Alabama does not have the cram-down option, then you'll have to go with his words.

Guest

Researching the cram-down option online, Alabama is listed first for having the cram-down option in a Chapter 13 filing, so in my opinion , you don't have to take your lawyers word, especially, if he's wrong, it's always good to have a second opininon, I suppose

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Is the cram option offered in all bankrupty courts in Alabama

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