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

Protecting Your Vehicle If It’s Worth Too Much

Wasson and ThornhillVehicles & Bankruptcy

Often your car or truck is fully protected in bankruptcy through an exemption. But if it’s worth too much bankruptcy can still protect it.   How Chapter 7 and Chapter 13 affect your vehicle and vehicle loan can determine which of these options you choose. That’s why we’ve focused the last several blog posts on the differences between these options. … Read More

Reaffirmation of a Non-Current Debt

Wasson and ThornhillVehicle Loans

In theory the terms of a reaffirmation agreement are negotiable. But many creditors require you to be current on the debt to reaffirm it.   Two blog posts ago we introduced reaffirmation agreements, and in the last one we discussed their risks. Today we get into what happens if you are not current on a debt that you want to … Read More

Debt Reaffirmation Comes with Risks

Wasson and ThornhillVehicle Loans

Reaffirmation of a secured debt, like a vehicle loan, can be a great way to keep the vehicle or other collateral. But know the risks.   Last time we introduced reaffirmation agreements as a good way to keep collateral like a vehicle under Chapter 7. Essentially, you get to keep the vehicle or other collateral in return for agreeing to … Read More