Qualify for Cramdown of Your Vehicle Loan

Wasson and ThornhillVehicle Loans

You qualify for cramdown (reducing your monthly vehicle loan payment and total paid until you’re free and clear) mostly through good timing.   Last week’s blog post was about lowering monthly vehicle loan payments through Chapter 13 cramdown. This also often reduces how much you end up paying on the loan, and often even reduces its interest rate. Cramdown usually … Read More

Keep Your Vehicle by Reducing Loan Payments through Cramdown

Wasson and ThornhillVehicle Loans

Chapter 7 reaffirmation requires you to make full monthly vehicle payments. Consider reducing loan payments through cramdown in Chapter 13.   The last two blog posts have been about keeping your vehicle in a Chapter 7 case. Two weeks ago was about the benefits of reaffirming the vehicle’s loan. Last week was about possible ways of keeping the vehicle by … Read More

Keep Your Vehicle without Reaffirming Its Loan?

Wasson and ThornhillVehicle Loans

Can you keep your vehicle without signing a reaffirmation agreement and putting up with the risks of owing a debt after a future repossession?   Last week we discussed keeping your vehicle in Chapter 7 by entering into a reaffirmation agreement with your vehicle lender. Through this agreement you exclude your vehicle loan from the discharge (legal write-off) of your debts. In … Read More