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110 West C Street
San Diego, CA 92101

Chapter 13

Secured Creditors

Secured creditors accept plan or receive collateral or amount of secured claim: Each allowed secured claim provided for by the plan must be treated by one of the following three methods Bankruptcy code §1325(a)(5):

(1) The secured creditor accepts the plan Bankruptcy code § 1325(a)(5)(A)

(2) The bankruptcy debtor surrenders the collateral to the secured creditor Bankruptcy code §1325(a)(5)(C)]; or

(3) The plan preserves the creditor's lien on the collateral and provides him with a distribution of cash installments or other property having a present value, on the effective date of the plan, of at least the amount of his allowed secured claim. Bankruptcy code §1325(a)(5)(B)] As discussed earlier, a claim is treated as secured only up to the value of the creditor's collateral Bankruptcy code §506(a); and for an over secured creditor, the secured claim includes (as allowed by the court) any attorney's fees, costs, or other charges agreed upon in the contract, as well as post-petition interest. Bankruptcy code §506(b); In re Colvin, 57 Bankruptcy Reporter 299 (Bankruptcy District of Utah 1986)

Present Value

In determining present value, many courts require the debtor to pay interest at the "rate charged by institutional lenders for similar commercial transactions" as the prevailing market rate. [In re Memphis Partners, L.P.] in re Southern States Motor Inns, Inc.

Rancho Santa Fe

Rancho Santa Fe is an unincorporated census-designated place in San Diego County, California, United States. The population is at about 5,000 inhabitants currently. It is the highest income community in the United States with at least 2,500 households at $196,298. The Census Designated Place is generally considered a bedroom community with one shopping avenue as well as several private schools and single family residential areas situated on uncommonly large lots.

The Pacific Bankruptcy Center assists the residents of Rancho Santa Fe, California in filing for relief under the United States bankruptcy code. We are a debt relief agency

About Us

The bankruptcy attorneys of the Pacific Bankruptcy Center, serve clients in Southern California, including San Diego County, San Bernardino County, and Riverside County; and the cities of San Diego, Riverside, San Bernardino, Chula Vista, National City, El Cajon, La Mesa, Mission Bay, Hillcrest, Ramona, Julian, Escondido, San Marcos, Vista, Oceanside, Encinitas, Solana Beach, Del Mar, Rancho Bernardo, Rancho Santa Fe, La Jolla, Pacific Beach, Ocean Beach, Little Italy, Old Town, Mira Mesa, North Park, Temecula, and Carlsbad.

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Chapter 7, stop foreclosure, stop harrassment, stop repossessions, stop telephone calls, stop lawsuits, stop utility shutoff's, stop annoying debt collectors, unfreeze bank accounts, regain your financial future, wipe out debt, chapter 13, "0.00 down with a wage order and balance paid through a trustee as part of the payment plan and not paid directly to the attorney, stop foreclosure and other legal proceedings, cram down secured liens,cure over extension of credit, overspending,eliminate medical debt.