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

Dealing with Simple and Difficult Debts in Chapter 7 and 13

Wasson and ThornhillBankruptcy Options

Overall, Chapter 7 deals with simple debts as well or better than Chapter 13 does, which deals with more difficult debts better.   Debts in Bankruptcy When deciding between Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” you look at many factors. You have to meet certain qualifications (usually easy to meet) to file either one. The amount … Read More

Secured Debts

Wasson and ThornhillSecured Debts

Creditors with secured debts often have much more leverage against you than with unsecured debts.