No Timing Conditions for Cramdown on Non-Purchase Collateral

Wasson and ThornhillSecured Debts

No need to comply with the timing conditions when doing a cramdown of a secured debt if the collateral was not purchased with the debt.   The Cramdown Advantage Last week we got into Chapter 13 cramdown of vehicle loans and furniture loans. Cramdown can be an excellent way to keep personal property that’s securing a loan. It allows you … Read More

Does Your Creditor Has a Valid Security Interest?

Wasson and ThornhillSecured Debts

Whether your creditor has a security interest determines whether it has rights against your vehicle or other collateral. Find out for sure.   Reaffirmation vs. Cramdown The last four blog posts have compared Chapter 7 reaffirmation with Chapter 13 cramdown of a secured debt. With reaffirmation you keep the vehicle or other collateral but continue to owe the debt. Usually … Read More