36 or 60 month payment plan

[downwardspiral]

I've read about 36 and 60 month payment plans. How do you get approved for a 36 month plan? 60 months seems like forever!

[wilbur4321]

I could be wrong, but I believe if you qualify for Ch7 due to means test, you get a 36-month period on Ch13 if you go that route (because you want to save your house, your car, etc). Otherwise, it's 60 months.

--randy

[kmb]

I think it also depends on what percentage of payback you're in and how quickly you can pay it back. If you aren't paying back 100% of all your unsecured debts, then I think you're automatically defaulted to the 60 month plan.

[woeisme]

If you are below the median for your state, you can do a 36 month plan. Above median filers are automatically put in 60 month plans, unless they can do 100% payback in fewer months. Some trustees and lawyers allow shorter plans to be proposed (mine is 59 months???) but I think that is just for flexibility if there is an emergency where you would need to skip a month or something... not sure how that was worked out.