Vehicle Loan: Reaffirm or Cramdown?

Wasson and ThornhillVehicle Loans

Here’s an example of when it’s better to reaffirm or cramdown a vehicle loan, to use a Chapter 7 case or a Chapter 13 one.   We’re in a series of blog posts about choosing between Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts.”  Along these lines two blog posts ago we outlined when to reaffirm a secured … Read More

Chapter 7 Stops Repo for Lapsed Vehicle Insurance

Wasson and ThornhillVehicles & Bankruptcy

Chapter 7 prevents repossession for lapsed vehicle insurance, but only briefly. You still have to insure your vehicle again quickly.     Our last blog post went through a list of ways Chapter 7 buys you time with your vehicle lender. Included in that list was that it gives you “a very limited time to reinstate required vehicle insurance.” This … Read More