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Early buy-out?

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    #1

    Early buy-out?

    Hi everyone! I am so new to the game with Chapter 13. I hear talks of people either doing a 3 or 5 year plan, but have heard of early buy-out also. Can anyone define early buy-out and how it works?

    Thanks for the help!

    Dee
    Tags: None
    #2
    I think an early buy-out was under the old law prior to 2005 filings. Someone can correct me if I am wrong though.
    Chapt. 13 Petition Filed 9/29/07
    Case Confirmed 12/10/07
    59 mos done 1 payment to go

    Comment

      #3
      There is no early buy out for plans confirmed after October 2005... unless you pay 100%.
      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.

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