Profile cover photo
Profile photo
Wasson & Thornhill
11 followers
11 followers
About
Posts

Post has attachment
Unsecured Debts: Wasson & Thornhill - Unsecured debts are not legally attached to anything you own. They have no security. Certain special unsecured debts are “priority” debts.   Unsecured Debts Debts that are unsecured are those which are not legally tied to anything you own. The creditor has no “security” attached to the debt, no “security interest” in anything. It has no right to repossess or ... Read More The post Unsecured Debts appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
If You Have a Judgment Lien, HOA Lien, or Owe Child or Spousal Support . . .: Wasson & Thornhill - Do you have a judgment or HOA lien on your home, or are behind on child or spousal support? Chapter 13 may be much better than Chapter 7.    You may need the extra help of Chapter 13 if you have any of the following liens against your home: Judgment lien Homeowner association lien Unpaid child or spousal support Or ... Read More The post If You Have a Judgment Lien, HOA Lien, or Owe Child or Spousal Support . . . appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
If You Have a Second Mortgage, Property Tax Debt, or Income Tax Lien . . .: Wasson & Thornhill - Do you have a 2nd or 3rd mortgage, owe property taxes, or have an income tax lien on your home? Chapter 13 may be much better than Chapter 7.   The last two blog posts were about situations in which a homeowner is current on the mortgage but has other debts on the home.  We showed how Chapter 7 “straight ... Read More The post If You Have a Second Mortgage, Property Tax Debt, or Income Tax Lien . . . appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
Chapter 7 with a Current Mortgage But Other Liens: Wasson & Thornhill - Here are 3 more Chapter 7 scenarios when you are current on your home mortgage but have other liens on your home.   Our last blog post was about situations in which Chapter 7 works well enough in the following 3 debt situations: Second or third mortgages Property taxes Income tax with a lien recorded on your home In general, ... Read More The post Chapter 7 with a Current Mortgage But Other Liens appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
When Your Mortgage is Current in Chapter 7: Wasson & Thornhill - There are certain scenarios when your home mortgage is current and you’re dealing with other home-related debts that Chapter 7 works well.   You’re current on your home mortgage payment, although you’ve been struggling mightily to keep it that way. You’re thinking very seriously about getting some financial help through bankruptcy. But you absolutely want to keep the home that ... Read More The post When Your Mortgage is Current in Chapter 7 appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
Your Home Mortgage Affecting Your Choice between Chapter 7 and 13: Wasson & Thornhill - Bankruptcy helps—often tremendously—with your home mortgage and other home-related debts. Here’s a list how Chapter 7 & 13 each do so.   If you’re buying a home, your mortgage and other home-related debts are probably your most important ones. That’s especially true if you want to keep the home. So the choice between filing a Chapter 7 “straight bankruptcy” and ... Read More The post Your Home Mortgage Affecting Your Choice between Chapter 7 and 13 appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
Dealing with Simple and Difficult Debts in Chapter 7 and 13: Wasson & Thornhill - 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 The post Dealing with Simple and Difficult Debts in Chapter 7 and 13 appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
The Same but Very Different Automatic Stay in Chapter 7 and 13: Wasson & Thornhill - Both Chapter 7 and 13 have the same automatic stay to stop creditor collection actions. But how they each use that tool is very different.   Last time we focused on how you can use the Chapter 7 and Chapter 13 options to your time advantage. Chapter 7 “straight bankruptcy” is very fast. If all or most of your debts can be ... Read More The post The Same but Very Different Automatic Stay in Chapter 7 and 13 appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
Chapter 7 is Quick. Chapter 13 Buys More Time.: Wasson & Thornhill - Both kinds of bankruptcy can use time to your advantage. Chapter 7’s advantage is it’s quick. Chapter 13 is it buys you much more time.   A Key Distinction-Treatment of Time We’re starting a series of blog posts about the practical differences between Chapter 7 and Chapter 13 bankruptcy. Before getting down into the details let’s look at a difference ... Read More The post Chapter 7 is Quick. Chapter 13 Buys More Time. appeared first on Wasson & Thornhill.
Add a comment...

Post has attachment
Prevent Judgment Liens against Your Home with Chapter 7: Wasson & Thornhill - Filing a Chapter 7 case buys you time and can permanently stop judgment liens from hitting your home.   Recently we went through a list of ways Chapter 7 buys you time when dealing with debts affecting your home. Included was that filing a Chapter 7 case can “stop a lawsuit from turning into a judgment lien.” That judgment lien ... Read More The post Prevent Judgment Liens against Your Home with Chapter 7 appeared first on Wasson & Thornhill.
Add a comment...
Wait while more posts are being loaded