Bankruptcy Forum

Secured Debt question

rjmcconne
10-12-2004, 05:42 AM
If I file for Chapter 13 and have two negative equity investment properties that I will surrender in the BK, will the defiency amount be considered unsecured debt? Would I still owe the deficiency amount after my discharge if it is not paid in full during the plan? Thanks

rrockinggramma
10-13-2004, 06:19 AM
they would be paid back the same as the other unsecured creditors in your plan. (the deficiency balance that is). At the end of your plan, the remaining amount would be discharged.