Keep Your Vehicle by Reducing Loan Payments through Cramdown

Wasson and ThornhillVehicle Loans

Chapter 7 reaffirmation requires you to make full monthly vehicle payments. Consider reducing loan payments through cramdown in Chapter 13.   The last two blog posts have been about keeping your vehicle in a Chapter 7 case. Two weeks ago was about the benefits of reaffirming the vehicle’s loan. Last week was about possible ways of keeping the vehicle by … Read More

12 Unexpected Benefits of Bankruptcy

Wasson and ThornhillBankruptcy Options

Bankruptcy gives you immediate and long-term relief from your creditors. But there are many other unexpected benefits of bankruptcy.      The next 12 blog posts will be about some of the most powerful and surprising benefits of bankruptcy. You’re likely considering bankruptcy because you need financial relief. You need immediate relief from debt collection pressures. You need long-term relief from having to pay … Read More

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