mr. hildebrand. >> mr. chairman, i administer about 600 new chapter 13 cases every month.ch one of those cases, there are issues that deal with the valuation of collateral or the interest rate that is an appropriate interest rate, how much debtors have to pay back and what we have seen is that only one or two or three maybe a month have actually litigated because in the back stop or the brac backdrop of the fact that there is a judicial remember addition a judicial response, negotiations take place. as i said in my original testimony, bankruptcy creates a platform on which there is a negotiation, where parties can act in their own economic self-trfment i totally agree with your hypothetical and that is accurate that whether it is a modification of the principal amount or whether it is a judicial back stop to the hamp program, where if hamp is silent or there is no response or the hamp is somehow mysteriously denied, there is some judicial response to review it to see exactly what is going on. and in that context, which is not the same as the 1106 response, it is something

mr. hildebrand. >> mr. chairman, i administer about 600 new chapter 13 cases every month. and in each one of those cases, there are issues that deal with the valuation of collateral or the interest rate that is an appropriate interest rate, how much debtors have to pay back and what we have seen is that only one or two or three maybe a month have actually litigated because in the back stop or the brac backdrop of the fact that there is a judicial remember addition a judicial response, negotiations take place. as i said in my original testimony, bankruptcy creates a platform on which there is a negotiation, where parties can act in their own economic self-trfment i totally agree with your hypothetical and that is accurate that whether it is a modification of the principal amount or whether it is a judicial back stop to the hamp program, where if hamp is silent or there is no response or the hamp is somehow mysteriously denied, there is some judicial response to review it to see exactly what is going on. and in that context, which is not the same as the 1106 response, it is