Considering Bankruptcy? Do this.

Wasson and ThornhillBankruptcy Advice

selling possessions

Photo by Clem Onojeghuo on Unsplash If you’re even considering bankruptcy, consider taking some actions which seem to go against common sense, including about your possessions. Last week we made the point that if bankruptcy is even a possibility for you, please quickly get legal advice. We said when considering bankruptcy you should get legal advice to find out: if … Read More

Keep Your Vehicle without Reaffirming Its Loan?

Wasson and ThornhillVehicle Loans

Can you keep your vehicle without signing a reaffirmation agreement and putting up with the risks of owing a debt after a future repossession?   Last week we discussed keeping your vehicle in Chapter 7 by entering into a reaffirmation agreement with your vehicle lender. Through this agreement you exclude your vehicle loan from the discharge (legal write-off) of your debts. In … Read More

Unexpected Benefit: Get Back Your Just Repossessed Vehicle

Wasson and ThornhillVehicle Loans

File bankruptcy before your lender takes your vehicle. But if you couldn’t, bankruptcy may still get back your just-repossessed vehicle.   When Does a Lender Repossess a Vehicle? When CAN a vehicle lender repossess your vehicle? Just about all vehicle loan contracts let the lender repossess the minute you are late on a payment. There may be a legal grace … Read More

Debt Reaffirmation Comes with Risks

Wasson and ThornhillVehicle Loans

Reaffirmation of a secured debt, like a vehicle loan, can be a great way to keep the vehicle or other collateral. But know the risks.   Last time we introduced reaffirmation agreements as a good way to keep collateral like a vehicle under Chapter 7. Essentially, you get to keep the vehicle or other collateral in return for agreeing to … Read More