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    #1

    early payoff

    I sent off the paper requesting a early payoff today. My lawyer sent it to me and had a section for me to fill out and then I mailed it to my trustee. I hope everything goes as planned. I'm under the old plan and I'm now at month 39 in a 60 month plan.
    Can anyone tell me what to expect now?
    Last edited by Peevee; 03-24-2008, 03:21 PM.
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    #2
    Originally posted by Peevee View Post
    I sent off the paper requesting a early payoff today. My lawyer sent it to me and had a section for me to fill out and then I mailed it to my trustee. I hope everything goes as planned. I'm under the old plan and I'm now at month 39 in a 60 month plan.
    Can anyone tell me what to expect now?
    Probably a pretty long wait, as they are getting, ahem, quite busy lately.

    Comment

      #3
      Your trustee will need to determine if you can actually buy out and may want more information as to how you are buying out and source of funds to buy out. You don't mention how you are able to buy out of the plan but the most common is refinancing your house since you have built up equity during the course of your Plan.
      _________________________________________
      Filed 5 Year Chapter 13: April 2002
      Early Buy-Out: April 2006
      Discharge: August 2006
      "A credit card is a snake in your pocket"

      Comment

        #4
        I'm not refinancing my father in law offered to buy us out. My house is financed at 4.75% interest so I don't won't to go that route.

        Comment

          #5
          I got my payoff today it's good for 30 days. I don't know how they figured it but it's $13,010
          If I keep making payments of what I pay now it should be $12,446.
          Do they figure in a little extra for early payoff?

          Comment

            #6
            Originally posted by Peevee View Post
            I sent off the paper requesting a early payoff today. My lawyer sent it to me and had a section for me to fill out and then I mailed it to my trustee. I hope everything goes as planned. I'm under the old plan and I'm now at month 39 in a 60 month plan.
            Can anyone tell me what to expect now?
            Did the section you filled out ask where the momey was coming from?

            Good for 30 days! Why is that?

            I never received a form from my lawyer when I asked for a pay off. I just received a pay off amount from him in a letter.
            Filed Chapter 13: Aug 2004 Confirmed Aug 2005
            Early Buy-Out 43/60 months: April 2008 :clapping:
            Status: Case Closed Completed May 6-2008 :D
            Discharged: June 2008 :D:yes2::D

            Comment

              #7
              Payoff ???

              I will have paid off in July-but my payments are supposed to last till December..Any chance ?? or more to the creditors ??
              I will wait till July to ask anyway,its a great feeling to see the light at the end.

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