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    RV installment loan

    I am in chapter 13. Have an RV installment loan. Want to pay it off. It’s not in the plan. But the bank does have it in their bankruptcy dept. can I pay it off and get the title

    #2
    Hi..just a note..even though you pay the loan..it does not mean it is not in the plan..it is. This is something you want to talk to your attorney about as you don’t want to do something that would cause your trustee to jump in and take the payment back from your lender. I’m sure others will respond.
    Filed Chapter 13 - 07/20/12
    Discharged 8/2/16

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      #3
      How does your Chapter 13 Plan treat this creditor?

      Since you say it is not in the Plan I assume the Plan either states you will make direct payments to the lender or you will surrender the collateral. Either way, the questions become:

      1. Where are you getting money to pay of the lender?

      2. If your Plan states you will continue to service the loan and your budget (Schedule J) includes a line item for the monthly payment, once paid off, will you have to increase your Plan payment as you have freed up $xxx per month?

      3. If your Plan states you will surrender the collateral (typically because it is not a necessity), why have you not done so and, if you have been making monthly payments to keep the RV are you diverting money that belongs to other creditors?

      You need to discuss this with your attorney.

      Des.

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