I made my 36th payment in my 46 month plan. It is 550 dollars a month and i owe the plan 5500 dollars. My question is can i get a loan and pay the plan off since i made the 3 year mark or do i have to pay back the full 100 percent which would be about 25 thousand.
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I believe the rule for Old Law filers is your Pot was locked at the 36 month mark.
BUT, you're gonna have to get approval from the Trustee to take on new debt.
Do you plan to refi against your house?? Several people here have done that and paid out of their plans early.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen... -
I have some property that the value has gone real high on. I wanted to borrow 5500 dollars and pay the chapter 13 off and get out of the bankruptcy. I would like to start building a house in a year or so but if i have to wait another 10 months that is no big deal. I have gone 3 years already and has been a struggle with the surge in gas prices.Comment
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Pow, you have passed the magic 36 months, so technically you dont have to pay 100%. See your attorney and trustee about taking on this new debt, as SF said, that is required. But I dont see any reason why you cant pay this off now.
Best wishes!!!Comment
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