hitting 5 years and still have payments?

[aphor]

We are just now hitting 5 years and heating we still need to make a couple payments due to fees incurred due to requests for 401k money?
We had a 55 month plan and paid extra because of this... but had skipped a few payments due to unforseen expenses.
So here we are at 60 months and we still owe? We are being told we have 2 more payments and asked if we could pay it all off right now to start the d/c process. We have been told no by our trusttee and that we need to make scheduled payments for the next two months...
I have read that ch 13 can't last longer than 5 years, is this true? Can we really not finish off our payments right now since we have done our 5 years?

We need to buy a new car since my wife's car has capped out on us. A beater we bought with cash to get us by. We would prefer to get a loan outside of BR if possible due to APR rates.

Any info would be appreciapted.

[justbroke]

aphor you really need to discuss this with your attorney. If the Trustee is saying you must pay it off immediately (2 months), then you must do so. The problem is that you have NOT fulfilled the Plan requirements since you have skipped payments. In order to receive a discharge you must have completed "all" payments required under the Plan. Please work with your attorney and/or Trustee and get this straightened out. It's no fun getting to 60 months and not getting the discharge.

One thing your attorney "may" be able to do, given your VERY specific situation, is to file a Motion to Amend Chapter 13 Plan so that it gets rid of those payments if they are not necessary. This is very complicated and whether you can have the Plan base reduced would need to be based on many factors (including, but not limited to, Chapter 7 "liqudiation test" a/k/a best interest of creditors test, modifying the Chapter 13 Plan to deal with the hiccups, loss in income during the Plan period).

Bottom line, yes your Plan must be completed in 60 months (either from confirmation or when you filed... based on your District).

[LadyInTheRed]

justbroke, I think you read the post wrong. The trustee is saying that OP cannot pay it all now and instead must make 2 more payments. It doesn't make any sense that a debtor couldn't make up 2 missed payments at any time they want. I do think aphor needs to get his/her attorney involved.

[justbroke]

LadyInTheRed well, then I'm officially confused! In any event, it is very strange that missed payments can't be caught up. Since I don't know all the dates involved (actual plan first payment versus last scheduled payment versus last possible payment) then I really can't do much but speculate. It's just strange if the case is not from a State where the maximum commitment period of 60 months is measured by the confirmation date.

Just when you thought you've seen/read/heard everything.