Can I Switch???

[arlington]

I have an appt. to file my paperwork tomorrow to file 13 but I will not be paying 100%. My question is this...if for some reason not all of my creditors file and my balance is reduced...can I change to file 100%? I want to get out of this thing as soon as possible. I know I am stuck for 5 years if I don't pay at 100%

[MajorMike]

how do you know already that you're not paying 100% when you don't even know which creditors will file claims?

[arlington]

Re: Mike

Hey Mike. I really don't know. I was just posing a "what if" question. I just want to know if I can decide to pay 100% of my amount owed if not all of my creditors file.

[lrprn]

Arlington, your questions tell me that you don't understand Ch 13 just yet, so here's an excellent link that helps explain how things work - http://www.uscourts.gov/bankruptcyco...chapter13.html

You will continue to make payments into your Ch 13 plan until you've made payments for the number of months your case is set for (I assume 60 months) or until you've paid your creditors 100% of what each is owed, whichever comes first.

MajorMike is right - you won't know the actual percentage of how much you'll be paying back your creditors until you see how many of them actually file claims. You can't set the payback % yourself.