http://www.DuncanLawOnline.com
A cramdown is when the bankruptcy courts allow someone to pay back the value of a piece of property as opposed to the amount owed on the loan. A common example is an automobile. If you have a vehicle that you got financing on more than 910 days ago and file a Chapter 13 bankruptcy then you would most likely only have to pay back the value of the vehicle, not the loan amount.
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