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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 11629
Experience:  JD, MBA
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I plan to file a Chapter 13 to cure the default on a rental

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I plan to file a Chapter 13 to cure the default on a rental house I own. My primary residence is not in default. The lender on the rental house is undersecured. Can I split the loan into secured and unsecured parts and cram down the lender? Also, can I modify terms of the loan through my Chapter 13 or should I convert to a Chapter 11 to cram down lender?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 5 years ago.
Hello and thank you for allowing me the opportunity to assist you.

Yes, you can use a Chapter 13 to cram down the rental property (it can be used on all secured debt except for your principal residence). There is no reason to file a Chapter 11 for this purpose.

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