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

Reaffirm Your Vehicle Loan in Chapter 7

Wasson and ThornhillVehicle Loans

To keep your vehicle and be able to afford to pay for it, reaffirm your vehicle loan in Chapter 7 and discharge your other debts.     A Vehicle Loan is a Secured Debts We started this series of blog posts on debts by introducing secured debts as follows: Each of your debts is either secured by something you own or it … Read More

Unexpected Benefit: Get Back Your Just Repossessed Vehicle

Wasson and ThornhillVehicle Loans

File bankruptcy before your lender takes your vehicle. But if you couldn’t, bankruptcy may still get back your just-repossessed vehicle.   When Does a Lender Repossess a Vehicle? When CAN a vehicle lender repossess your vehicle? Just about all vehicle loan contracts let the lender repossess the minute you are late on a payment. There may be a legal grace … Read More