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Gonzaga University School of Law – Spokane, Washington – Class of 2002 – Cum Laude The Latin phrase “Deo patriae, scientiis, artibus” translates to “For God and country through sciences and arts”. The initials A.M.D.G. on the seal of Gonzaga Law School stand for Ad Majorem Dei Gloriam, which is Latin for “For the Greater Glory of God” the Motto of the Society of Jesus (Jesuits): a Catholic religious order founded by St. Ignatius of Loyola.
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“In the middle of difficulty lies opportunity.” – Albert Einstein
CRAM DOWN – AVAILABLE IN CHAPTER 13, NOT IN CHAPTER 7
Cram down is the bifurcation or splitting of a car loan into two parts – secured and unsecured.
This can be significant if you are not required to pay anything to unsecured creditors in your Chapter 13 plan. In that case you would only pay the value of vehicle over 5 years at 6% interest (or less if your contract rate is less). By cramming down the balance to the value of the vehicle, debtors can potentially save thousands of dollars and have a much more affordable vehicle.
In order to be eligible for cram down, the vehicle must have been purchased more than 910 days before filing.
The secured portion of the debt is based on the value of the vehicle. Below is the Kelly Blue Book site where you can calculate the value of your vehicle. http://www.kbb.com/
If you are not required to pay unsecured creditors anything in Chapter 13, this division of debt can be particularly valuable. For example, if you owe $10K on a car that is worth $5K, and have an interest rate of 12% with a payment of $223, your payment would drop to $97 per month because the interest rate would be crammed down to 6% and the balance owed would be crammed down to $5K.
To Always Be a Human Being First, and My Role Second. To First, Do No Harm, then to provide the best legal outcome, smoothest process, best value, and to make a positive difference in the life of every client.
Christopher S. Mulvaney’s Mantra:
May I be filled with loving kindness for all life. May I be safe from dangers within and without. May I be healthy in body, mind, socially, and spiritually. May I be at ease and happy, doing good in the world.
May You be filled with loving kindness for all life. May You be safe from dangers within and without. May You be healthy in body, mind, socially, and spiritually. May You be at ease and happy, doing good in the world.
I am an experienced solo estate planning, debtor bankruptcy, and real estate attorney. At my law firm in Bellevue, Washington between Eastgate and Factoria, I do things a little differently. I am passionate about helping people take control of their lives.
One of my primary practice areas is urgent (bankruptcy), and the other is important, but not urgent (estate planning). Not letting the urgent crowd out the important is key. I have made a choice to include the positive difference I make in the life of each client in how I calculate profit. This means I have higher job satisfaction, and happy clients who confidently give referrals.
My goal is that my work is transformative for people during a challenging time in their lives. At Mulvaney Law Offices, PLLC (MLO), you will not find a gatekeeper. There are no forgotten cases hiding on an associate’s cluttered desk. It’s just me, working with each one of my clients one-on-one to resolve their legal concerns as favorably as possible.
As your lawyer, I will personally handle every aspect of your case. My office is not a factory churning out thousands of filings per year, where each case matters little. You, and your case, matter to me. You can see what clients have said about me, and leave your own reviews at these links.
Mulvaney Law Offices, PLLC is located in Bellevue, Washington, representing estate planning & chapter 7 and chapter 13 bankruptcy, clients in all 39 Washington Counties.
Washington State residents can meet with me in Zoom/DocuSign from anywhere in the world, and I can notarize their electronic signatures because I am a remote online notary. Just email me an image of your photo ID.
