Remove a Judgment Lien from Your Home

Wasson and ThornhillCreditor Lawsuits

One great benefit of bankruptcy is the ability to remove a judgment lien from your home. It’s almost as helpful as writing off that debt.   The Problem, and the Bankruptcy Solution Do you have a judgment lien on your home? If so, the debt on that judgment is secured by whatever equity you have in your home. The debt … Read More

Stripping a Second Mortgage with Chapter 13

Wasson and ThornhillHome Mortgages

Under the right circumstances bankruptcy can strip a second (or third) mortgage off your home’s title, and radically reduce how much you pay.   Summary Do you have a second or third mortgage on your home? Imagine if you could stop paying that monthly mortgage payment. Imagine over the course of the next 3 to 5 years paying only as … Read More

Catch up on Property Taxes through Bankruptcy

Wasson and ThornhillHome Foreclosures

Bankruptcy helps you catch up on property taxes: Chapter 7 discharges other debts, Chapter 13 helps with your mortgage & other special debts.   Bankruptcy Stops a Property Tax Foreclosure Filing either a Chapter 7 “straight bankruptcy” or a Chapter 13 “adjustment of debts” case stops a foreclosure by your property tax authority. Filing bankruptcy stops most forms of debt collection … Read More

A Powerful, Affordable, Flexible Way to Catch up on Your Mortgage

Wasson and ThornhillHome Mortgages

Chapter 13 gives you a powerful, affordable, flexible, safe and successful method to catch up on your missed payment and save your home.   Chapter 7 “Straight Bankruptcy” and Chapter 13 “Adjustment of Debts” The two main consumer bankruptcy options are Chapter 7 and Chapter 13.Most Chapter 7 cases only takes a few months—usually 3 to 4 months—from filing to … Read More

Afford to Pay Your Home Mortgage through Bankruptcy

Wasson and ThornhillHome Mortgages

Chapter 7 clears away your other debts so that you can afford to pay your home mortgage. Chapter 13 does so by helping you deal with special debts.   Both Chapter 7 and Chapter 13 Improve Your Cash Flow A Chapter 7 “straight bankruptcy” case would very likely quickly write off (“discharge”) many of your debts. For many people it discharges most … Read More

Use Chapter 13 to Protect Home Equity

Wasson and ThornhillHomestead Exemption

Chapter 13 gives you a unique, safe, flexible, and practical way to protect home equity that is larger than your homestead exemption.   The Problem of Too Much Home Equity Our last two blog posts were about protecting the equity in your home through the homestead exemption. Two weeks ago was about protecting the current equity; last week about protecting future equity. The blog … Read More

Protect Future Home Equity with Bankruptcy Now

Wasson and ThornhillHomestead Exemption

An underappreciated benefit of filing bankruptcy now is that doing so will protect the equity that your home will build in the future.   Our last blog post discussed how to protect the equity currently in your home through the homestead exemption. We discussed property exemptions in bankruptcy in general, and federal and state homestead exemptions in particular. Overall we showed how … Read More

The Homestead Exemption in Chapter 7 Bankruptcy

Wasson and ThornhillHomestead Exemption

The homestead exemption protects the equity you have in your home. If you don’t have too much equity, consider Chapter 7 bankruptcy.   Our last two blog posts outlined 15 separate ways that bankruptcy can protect your home now and/or in the future. We’ll be explaining each one of these ways in 15 separate blog posts. Here is the first … Read More

More Ways Bankruptcy Benefits Your Home

Wasson and ThornhillHome Foreclosures

Bankruptcy helps with more than just your mortgage. You can avoid, or deal constructively with, judgment, income tax, support and HOA liens.   Last week we gave you 7 ways that bankruptcy can either save your home now or protect it going forward. Here are the remaining 8 ways (#8 through #15), mostly involving involuntary liens placed on your home … Read More

List of How Bankruptcy Benefits Your Home

Wasson and ThornhillHome Mortgages

If you’re having trouble making your mortgage payments, or other home-related debts, here’s a list of the many ways how bankruptcy can help.   Here’s the List We’ve got a list of 15 separate ways that bankruptcy can either save your home now or protect it in the near future. Here are the first 7—the other 8 we’ll give you … Read More

Reducing Payments on Furniture and Other Secured Debt

Wasson and ThornhillSecured Debts

You can lower your monthly payments, the interest rate, and amount you pay on furniture purchases, secured credit cards, and pawn loans.   Our last 4 blog posts have been about Chapter 13 cramdown of vehicle loans. For most people filing a consumer bankruptcy case, their vehicle loan is their largest and most important personal property debt. But cramdown can also … Read More

Example of Vehicle Loan Cramdown

Wasson and ThornhillVehicle Loans

This example of Chapter 13 vehicle loan cramdown illustrates better than any list of rules how you can save money immediately and long-term.   Our last 3 blog posts have been about Chapter 13 cramdown of a vehicle loan. Cramdown can reduce your loan’s monthly payments, its interest rate, and the total you pay for your vehicle. Often you end … Read More

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