Anyone cramdown a auto loan in the Phoenix, Arizona district?

[optimistic1]

I am curious as to what method that the courts/judges/trustees will utilize in ruling what the crammed down value of a car is.

KBB Private Party? KBB Retail? NADA?

Hopefully, someone out there has dealt with this in AZ.

[becky20]

I'm dealing with this right now. I have two cars that we're cramming down but they are with AZ Federal Credit Union (the biggest pains in the world). They are fighting the values (I posted another post about this a week or so ago). My attorney used KBB private party value in good condition and the credit union filed an objection stating that the values were too low and using the Suggested Retail Value in EXCELLENT condition!!! We've been going back and forth for months - we filed in July, 341 in August, and still not confirmed because of this issue. I know my attorney has done cram downs before so I don't doubt that they know what they are doing, AZ Federal is just being difficult about it all. But that's okay, cuz originally we were going to stay in our house but have since decided to turn over the house so they'll now be out 50K in an equity loan - and since they are being so crappy about the cram downs, I don't even feel guilty about the equity loan. I also feel comfortable that the judge won't allow the amount that AZ Federal is suggesting since everyone else says no, private party value should be used.

[optimistic1]

Interesting, I will have to see how your case finally pans out, it really isnt up to the credit union at this point, the judge will have to make a ruling. I am going with Private Party Value at this point, hopefully it all works out for the better, luckily I wont be dealing with a credit union, just Crapital One.