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

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