Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.
The issue here is if the debtor is eligible for a ch13, as he would be well above the debt ceiling. I would say the effective date is the date of filing if the debt is secured or unsecured. Had the property been foreclosed at the time of the filing?
Yes, the true balance would be unsecured if the property had been sold.
The creditor would only be able to get a deficiency balance claim.
i've seen cases where the plan controls, so as long as the creditor is listed on the petition, and the plan sets out treatment, it should be fine.
So, you may need to file an amended plan, indicating that the debtor will surrender the property, and the creditor will be allowed an unsecured claim for any deficiency balance remaining after sale of the asset.
I would also file an objection to the claim, yes, if the debtor knows that the property is sold. The lender will then likely file an amended claim.
Let me know if you have any questions. thanks
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