3 years or 5 years? [Archive]

Greg0538

02-05-2005, 02:08 PM

What determines that more than 3 years is needed to discharge in ch 13?

HHM

02-05-2005, 05:01 PM

3 years is the minimum (unless you pay off your creditros 100% in a shorter amount of time). The "up to 5 year" provision is to allow you to catch up on back payments on your mortgage (or other secured debts) if you couldn't do it within 3 years.

Going over 3 years is optional, and is most commonly used to save a house.



	Bankruptcy Forum > Before the Discharge > Chapter 13 > 3 years or 5 years? PDA 3 years or 5 years? Greg0538 02-05-2005, 02:08 PM What determines that more than 3 years is needed to discharge in ch 13? HHM 02-05-2005, 05:01 PM 3 years is the minimum (unless you pay off your creditros 100% in a shorter amount of time). The "up to 5 year" provision is to allow you to catch up on back payments on your mortgage (or other secured debts) if you couldn't do it within 3 years. Going over 3 years is optional, and is most commonly used to save a house.