Hi, I'm new to this forum and currently 2.5 years into my 5-year 100% Ch.13. During my initial Ch.13 process, I was able to keep a center console boat that I owned. Now with the increased cost of fuel in my vehicles and groceries things are getting tighter. I am thinking of selling the boat and seeing if I can break even on the loan or make some profit that I could then roll into my Ch.13 and pay it off earlier. In the event that I am unable to sell it is there any way to modify my Ch.13 and amend it to give up the boat? If that was an option, would they cram the difference into my 3.5 years left? Thank you in advance for any advice.
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I believe you could amend the Chapter 13 plan with a provision to surrender. The lender would need to liquidate and then modify their claim to be an unsecured claim. Have you talked to your attorney about this?Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
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