Mississippi Chapter 13 Plan and Motions for Valuation and Lien Avoidance are procedures that can be used by debtors in Chapter 13 bankruptcy cases to establish the value of secured claims and to reduce or eliminate liens against their assets. The Chapter 13 plan and motions allow the debtor to propose a repayment plan to creditors that is based on the amount of debt, the value of the collateral, and their ability to pay. The plan also allows the debtor to value secured claims and to reduce or eliminate liens on their property in order to make payments more manageable. The two main types of Mississippi Chapter 13 Plan and Motions for Valuation and Lien Avoidance are the Motion to Value and the Motion to Avoid Lien. The Motion to Value is used to determine the fair market value of the debtor's collateral, while the Motion to Avoid Lien is used to reduce or eliminate any liens that are attached to the debtor's property. These motions can be filed with the court in order to seek a lower payment or a more manageable repayment plan for the debtor.
Mississippi Chapter 13 Plan and Motions for Valuation and Lien Avoidance
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