Payoff Chapter 13 amount

[fournee1]

hello thank you for you response. I am on a 36 month plan with 12 months to go.

[justbroke]

I am on a 52% payment plan. Does this mean I can pay off the bk early? If so, how will it effect my credit.

The question is one of what is your "applicable commitment period"? In other words, are you in a 36 month or 60 month plan. If you are in the latter, 60-months/5 years, you are over-the-median, and you will not be able to payoff early unless you pay 100% of the allowed claims.

[fournee1]

From all of the caselaw, it would be difficult to payoff a Chapter 13 without paying 100% of the allowed unsecured claims; unless you were an under-the-median income filer. Your question, as posed, would indicate an over-the-median income filer who must be in plan for 5 years "unless" they pay 100% of the allowed unsecured claims.

There haven't been many cases that I can even reference. I have only read of a couple of cases (post BAPCPA cases confirmed after 10/2005) that were able to. However, those cases were under-the-median income filers.

I am on a 52% payment plan. Does this mean I can pay off the bk early? If so, how will it effect my credit.

[justbroke]

From all of the caselaw, it would be difficult to payoff a Chapter 13 without paying 100% of the allowed unsecured claims; unless you were an under-the-median income filer. Your question, as posed, would indicate an over-the-median income filer who must be in plan for 5 years "unless" they pay 100% of the allowed unsecured claims.

There haven't been many cases that I can even reference. I have only read of a couple of cases (post BAPCPA cases confirmed after 10/2005) that were able to. However, those cases were under-the-median income filers.

[fastcars69]

Is it possible to payoff the amount of your Chapter 13 settlement or are you totally obligated for the entire 5 years?

Thanks
Bill