I have two auto notes. I have longer than 60months remaining on the two notes. (82)&(79). In a CH 13, will these accounts be paid back in the 13 over five years? I have 5.25% & 5.99% APR on the notes. Will the APR remain the same? Or do you think the Trustee will make me pay them back seperate from the plan?
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I think that is up to you and your attorney. If the loan notes are older than 910 days they can be included and crammed down to FMV. If not, then they would be paid in full. You can pay them outside of the plan if you wish. In my plan, I included my car. It was paid off in full before any unsecured creditors received a dime. My order of payments went like this: Lawyer, IRS and car, then unsecured. -
Thanks for the info. What interest rate was your auto placed at?Comment
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the trustee set the interest at 6 percent but it wasn't paid as in so much per payment per month. The claim filed was for 9,000 and he paid it off in chunks of money per month until it was paid in full and added the 6 percent interest.Comment
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