Those of you who paid BK off early??
I've search high and low for answers, ideas, comments, etc. Just when you think you have the answer to your questions someone pops up with a different answer. Then, you're right back where you started at and more confused.
For those of you that have already paid off your BK can you help us out with some answers here?
1. How long were you into the BK when you paid off early? Was it before or after the 36 months? How long was your plan?
2. Was it a 100% payback or just the pot plan?
3. Did the trustee give you a hard time paying off?
4. Did he ask where the money can from that you are using to pay off early?
5. If you don't mind me asking where did the money come from being all your disposal income is supposed to go into the plan?
6. Did your lawyer think it was a good idea for you to pay off early?
7. Did you have any secured bills that you were paying outside the plan but listed on the BK? Were any of them paid off while still in your plan and did you have to turn that money over to the trustee?? Or did you save that money up to pay off early?
I am just so confused because from reading the message boards, I was under the impression that ANYONE can pay off the BK early for just the pot plan if it is past the 36th month mark.
If you try to pay off before the 36th mark then you have to pay 100% of the plan.
I was told by my lawyer that once the plan is confirmed that's it you're done. We talked about possibly paying off early and he said if you do don't try to do it before the 36th month.
While in our BK after 12 months of making trustee payments, we had a few secured bills that were paid off that were being paid outside the plan but was listed on the BK. We asked our lawyer do we have to turn that money over to the trustee and he said no! Take that money and put it into a CD or something. Isn't that still considered as disposal income???
Please can some of you that have been there shed some light upon us?
I am under the old law if this matters any.
Thanks so much
For those of you that have already paid off your BK can you help us out with some answers here?
1. How long were you into the BK when you paid off early? Was it before or after the 36 months? How long was your plan?
2. Was it a 100% payback or just the pot plan?
3. Did the trustee give you a hard time paying off?
4. Did he ask where the money can from that you are using to pay off early?
5. If you don't mind me asking where did the money come from being all your disposal income is supposed to go into the plan?
6. Did your lawyer think it was a good idea for you to pay off early?
7. Did you have any secured bills that you were paying outside the plan but listed on the BK? Were any of them paid off while still in your plan and did you have to turn that money over to the trustee?? Or did you save that money up to pay off early?
I am just so confused because from reading the message boards, I was under the impression that ANYONE can pay off the BK early for just the pot plan if it is past the 36th month mark.
If you try to pay off before the 36th mark then you have to pay 100% of the plan.
I was told by my lawyer that once the plan is confirmed that's it you're done. We talked about possibly paying off early and he said if you do don't try to do it before the 36th month.
While in our BK after 12 months of making trustee payments, we had a few secured bills that were paid off that were being paid outside the plan but was listed on the BK. We asked our lawyer do we have to turn that money over to the trustee and he said no! Take that money and put it into a CD or something. Isn't that still considered as disposal income???
Please can some of you that have been there shed some light upon us?
I am under the old law if this matters any.
Thanks so much