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Chapter 13 and Lien Release

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    Chapter 13 and Lien Release

    We received a lien release on my 2002 Ford Windstar and on my credit report it shows the loan has being written off for the balance. We still owe over $8000 per my Chapter 13 plan with 100% payback to unsecureds. Does the fact that the loan company released the lien on my van do anything to the Chapter 13 plan? Do they now deduct what is left on the van from the plan or does the loan company still get 100% of what is left?

    Thanks
    Paula 61

    #2
    Originally posted by paula61 View Post
    Does the fact that the loan company released the lien on my van do anything to the Chapter 13 plan? Do they now deduct what is left on the van from the plan or does the loan company still get 100% of what is left?
    Paula, since no one has answered your questions yet and I don't know for sure either, this is probably a question best answered by your lawyer. Would love to hear what he/she tells you - will you come back and post what you find out?
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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