Does Your Creditor Has a Valid Security Interest?

Wasson and ThornhillSecured Debts

Whether your creditor has a security interest determines whether it has rights against your vehicle or other collateral. Find out for sure.   Reaffirmation vs. Cramdown The last four blog posts have compared Chapter 7 reaffirmation with Chapter 13 cramdown of a secured debt. With reaffirmation you keep the vehicle or other collateral but continue to owe the debt. Usually … Read More

Relief from the Automatic Stay

Wasson and ThornhillAutomatic Stay

Creditors sometimes ask the bankruptcy court for permission to take certain collection action against you or the collateral.   In our last blog post we talked about the “automatic stay.” It’s one of the most important benefits of filing bankruptcy. It’s certainly the fastest, going into effect immediately when you or your Louisville lawyer files your bankruptcy case. The automatic … Read More

Debt Limits Are Increasing

Wasson and ThornhillChapter 13

As of April 1, 2016 you can have a little more debt and still qualify for a Chapter 13 “adjustment of debts”