There is no intent to abuse the bankruptcy process. However, if the lender considers it abuse, what happens next? Does the judge decide if I can move forward with my plan?
If the lender is allowed to foreclose it will lose $100,000 due to declining property values. Allowing me to make some payments gives the market time to recover. Waiting is a good thing for everyone unless they want to write off their losses immediately.
I see. So if I file a motion to value the properties and come up with a low payment they will likely object to everything. Does a judge decide what happens if we can't agree?
A judge can cram down the value over their objection but I think they are going to come after you fairly hard. Even if you succeed on the motions then they become one of your unsecured creditors and they get a vote on whether or not to approve your reorganization plan
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