top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Question about secured loans

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Question about secured loans

    I have sent all my paperwork to the attorney and I wait to hear of when they file. My question is I have two secured loans going inside the plan, I know the first payment is after 30 days of when I filed but what I don't know is when do I stop making those payments outside of the plan? When I hear that my case is filed do I then wait and save that money for the trustee. I ask because work has been slow and I really cannot afford double payments. Thanks
    Filed September 15 2009
    Confirmed December 15 2009 :yahoo
    Discharged! 1/31/12 New beginning has begun!

    #2
    You need to talk to your attorney. IN many Districts, you are not allowed to pay them outside the Plan. That means as soon as you file, you make payments only through the Trustee.

    In some limited Districts, they require the attorney to hold the payments in escrow. In others, they require you to make any post-petition payments that come due.

    So, you really need to talk to your lawyer.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      Ok I am going to call them on this, I was just sitting here and was curious about it. Thanks
      Filed September 15 2009
      Confirmed December 15 2009 :yahoo
      Discharged! 1/31/12 New beginning has begun!

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X