Consumer Bankruptcy Law and Practice: 6.5.3.5 Delay to Obtain More Favorable Treatment of Certain Secured Debts in Chapter 13
The 2005 amendments added a provision to chapter 13 that may impair the debtor’s right to “cramdown” certain debts secured by purchase money security interests in personal property.179 The provision applies if a motor vehicle was purchased for the debtor’s personal use within the 910 days before the bankruptcy petition was filed or if other property was purchased within one year before the petition was filed.180 If the debtor is filing a chapter 13 case in which the debtor can benefit from the b