Avoid Vehicle Surrender or Repossession

Wasson and ThornhillVehicle Loans

vehicle in driveway

Photo by Zachary Keimig on Unsplash. Use bankruptcy to avoid surrendering your vehicle or getting it repossessed. Then Chapter 7 or 13 will either buy time or allow you to keep it. We’re continuing a series of blog posts on the smart timing of your bankruptcy case. This week we get into filing bankruptcy to stop a vehicle repossession or … Read More

Non-Vehicle Cramdown Timing

Wasson and ThornhillSecured Debts

kitchen with appliances

Photo by Clayton on Unsplash. Cramdown is often used as a tool to lower monthly payments and the total paid on vehicle loans. This tool also works with other collateral. We’re in a series of blog posts on the best timing for your filing of your bankruptcy case. Last week we got into timing the cramdown of a vehicle loan. … Read More

Vehicle Loan Cramdown and Chapter 13 Timing

Wasson and ThornhillVehicle Loans

vehicles on road

Photo by Xan Griffin on Unsplash. Vehicle loan cramdown lowers your monthly payment and reduces the total you pay for your vehicle. You have to qualify, and timing is crucial. We’re in the midst of a series on filing your bankruptcy case with the best timing. Today we get into the right timing to be able to cram down your … Read More

Student Loans and Chapter 13 Timing

Wasson and ThornhillStudent Loans

nervous student

Photo by Tim Gouw on Unsplash. Chapter 13 gives you significant timing advantages better enabling you to demonstrate the required undue hardship to write off student loans. We’re in a series on the best timing for filing your bankruptcy case. Two weeks ago we introduced the special condition you have to meet to discharge (write off) student loans: undue hardship. … Read More

Student Loans and Chapter 7 Timing

Wasson and ThornhillStudent Loans

student

Photo by JESHOOTS.COM on Unsplash. You have to demonstrate undue hardship to write off a student loan. That often requires strategic filing of your Chapter 7 case. We’re in a series on the smart timing of your bankruptcy case. Last week we introduced the special condition you must meet to discharge (write off) student loans: “undue hardship.” Bankruptcy discharges other … Read More

Discharging Student Loans Causing Undue Hardship

Wasson and ThornhillStudent Loans

student studying

Photo by Green Chameleon on Unsplash. Discharging—permanently writing off—student loans requires showing undue hardship. Smart bankruptcy timing can make this easier to do. Discharging Student Loans in Bankruptcy It takes certain circumstances to be able to discharge student loans. Those circumstances can involve the right timing of your bankruptcy case. Bankruptcy discharges most debts. But it “does not discharge” you … Read More

Avoid Credit Card Allegations of Fraud

Wasson and ThornhillDischarge of Debts

credit card

Photo by rupixen.com on Unsplash. Making credit card purchases or cash advances a short time before filing bankruptcy can result in fraud allegations. Good timing can avoid this. Last week’s blog post introduced the so-called “presumptions of fraud” in bankruptcy. Today we get into dealing with this issue through smart bankruptcy timing. Bankruptcy Timing to Avoid the Presumption of Fraud … Read More

Avoid Presumptions of Fraud

Wasson and ThornhillDischarge of Debts

credit cards

Photo by Avery Evans on Unsplash. Presumptions of fraud make a credit card or cash advance debt harder to discharge—write off in bankruptcy. They’re usually easy to avoid. This blog post continues a series about the smart timing of your bankruptcy filing started back in July. (It’s been interrupted by urgent blog posts related to the pandemic—about unemployment benefits and … Read More

Eviction Moratorium Issues

Wasson and ThornhillFinancial Crisis

home

Photo by Jan Antonin Kolar on Unsplash. The ongoing federal eviction moratorium is a helpful but limited tool. There are issues about how to qualify and its conditions and limitations. Our last three weekly blog posts have been about the new Agency Order temporarily stopping many residential evictions. This Order by the Centers for Disease Control and Prevention (“CDC”) went … Read More

The Eviction Moratorium and Chapter 13

Wasson and ThornhillFinancial Crisis

home

Photo by Patrick Perkins on Unsplash. The CDC’s recent temporary eviction moratorium does not forgive any unpaid rent. Chapter 13 lets you catch up on that back rent over time. Our blog post two weeks ago was about a recent federal order temporarily stopping certain residential evictions throughout the country. Check out that blog post to see who is covered … Read More

Chapter 7 and the Eviction Moratorium

Wasson and ThornhillFinancial Crisis

kids looking out window of family home

Photo by Kelly Sikkema on Unsplash. The CDC’s recent temporary eviction moratorium adds a new tool around which to plan your bankruptcy filing. Here are some Chapter 7 strategies. Last week’s blog post was about a new federal order temporarily stopping certain residential evictions throughout the country. Please see that blog post about which renters and rental properties are covered, … Read More

The New Eviction Moratorium

Wasson and ThornhillFinancial Crisis

hopeful rainbow over apartment

Photo by Vlad Zinculescu on Unsplash. The CDC imposed a new eviction moratorium over virtually all “residential property” in the United States. How do renters take advantage of it? On Friday, September 4, 2020, a federal order went into effect temporarily stopping certain residential evictions throughout the country. Issued by the Centers for Disease Control and Prevention (“CDC”), it’s titled … Read More

Bankruptcy’s Effect on an Income Tax Lien

Wasson and ThornhillTax Liens

government

Photo by Joshua Sukoff on Unsplash. An income tax lien creates challenges, so try to file bankruptcy to prevent one. Otherwise, bankruptcy can often help deal with a tax lien. This blog post continues a series about the smart timing of your bankruptcy filing. (It was interrupted by two blog posts updating federal unemployment benefits.) The last one in this … Read More

States’ Responses to $400/$300 Extended Unemployment Benefits

Wasson and ThornhillUnemployment Benefits

manacing cloud with hopeful rainbow

Photo by NOAA on Unsplash. Different states have responded differently to the proposed $400/$300 federal extended unemployment benefits. How about Kentucky and Indiana? Last week we explained the President’s Memorandum of August 8 which extended reduced federal unemployment benefits. The $600 weekly benefit had expired on July 31. The House of Representatives had previously passed a bill extending the $600 … Read More

Trump’s $400 Unemployment Benefits

Wasson and Thornhillpandemic, unemployment benefits

foreboding waters

Photo by Steve Halama on Unsplash. On August 8 Trump signed a Memorandum extending federal unemployment benefits, at $400 per week. Is this really happening? A Quick History of the Federal Unemployment Benefits The CARES Act’s $600 per week additional federal unemployment benefits expired on July 31, 2020. Section 2104 of the CARES Act.  Back in May the U.S. House … Read More