A Chapter 13 requires that the debor apply all of his or her disposable income towards payment of the confirmed plan. To the extent that the plan provides more payment to unsecured creditors than they would receive in a Chapter 7, but less than 100% payment, the entire plan operates as a global "cramdown" of all unsecured debts.
Secured creditor claims on personal property are similarly defeated to the extent that the actual value of the collateral is less than the amount due the creditor.
Real property, however, is not similarly situated. Secured claims on a debtor's principal residence may not be stripped or subjected to a cramdown. An attempt to change this rule was defeated by the Senate last March, and there appears to be no willpower in Congress to change the situation.
Hope this helps.
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