Reaffirm Your Vehicle Loan in Chapter 7

Wasson and ThornhillVehicle Loans

To keep your vehicle and be able to afford to pay for it, reaffirm your vehicle loan in Chapter 7 and discharge your other debts.     A Vehicle Loan is a Secured Debts We started this series of blog posts on debts by introducing secured debts as follows: Each of your debts is either secured by something you own or it … Read More

When to Reaffirm a Debt, When to Use Chapter 13

Wasson and ThornhillBankruptcy Options

Reaffirming a secured debt, like a vehicle loan, can be a good way to keep that collateral/vehicle. But Chapter 13 is sometimes better.   The last 5 blog posts in December were about keeping the collateral you want by “reaffirming” the debt. “Reaffirmation” applies only to Chapter 7 “straight bankruptcy”cases. (We’ve focused mostly on reaffirming a vehicle loan.) Today we … Read More

Can I Rescind a Reaffirmation Agreement?

Wasson and ThornhillSecured Debts

Yes, you can rescind, or cancel, a reaffirmation agreement. But the deadline to do so is very quick. Know when it is so you can act timely.   Reaffirmation Agreements Our last four blog posts have been about reaffirmation agreements in a “straight bankruptcy” Chapter 7 case. In particular the first of these introduced these special agreements and the second … Read More