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
Here’s an example of when it’s better to reaffirm or cramdown a vehicle loan, to use a Chapter 7 case or a Chapter 13 one. We’re in a series of blog posts about choosing between Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts.” Along these lines two blog posts ago we outlined when to reaffirm a secured … Read More
You may be able to keep your vehicle for less money by “redeeming” itâpaying its present fair market value instead of the full debt.
Decisions that seem to make sense at the time can end up being against your best interest. Hereâs what to look out for.