Give me your Cram Down % rate!

[optimistic1]

Ok, so I am trying to feel this thing out, especially here in Arizona.

I have a loan for a 2005 Hyundai, and I am upside down about $5000.

I am planning on including this into my BK, and cram the auto loan down.

I understand that the typical interest rate for this is basically the current Prime Rate plus some add on interest at about 1-3%.

What have any of you had confirmed in your plan for a interest rate? Was it exactly as I described above? And how did it go? Did you have any objections from the lender?

My lender is Capital One, and it was a refi.

[rrockinggramma]

my trustee paid 6 percent interest to the auto finance company in my chapter 13

[michele71]

optimistic--how long have you had the loan---when did u refi it?

[optimistic1]

I had the original loan for almost almost 4 years now, but the refi took place 2.5 years ago this March. In my district, or state, whichever it is, the refi does not cancel out the wait period, it resets it, according to my attorney. Either way, next month the refi will be more than 910 days, so a cram will be coming when I file.