§ 651 Secured Creditor Rights Protection

• •If someone owes you money and gave you something valuable (like a car or house) as a guarantee, you can still take that thing if they don’t pay you back.
• •If the person who owes money is trying to make a plan to pay less, that plan can’t change the part of the debt that’s covered by the valuable thing they gave you.
• •The plan to pay less money only applies to the part of the debt that isn’t covered by the valuable thing.

You lend your friend $10,000 to buy a car, and they promise to give you the car if they can’t pay you back.

If your friend can’t pay you back and tries to make a plan to pay only $7,000, the plan can’t change the fact that you can still take the car for the $10,000 they owe. The plan to pay less only applies if the car is worth less than $10,000.