bank accounts while you are in bk13

[sadandconfus]

Does the trustee monitor your bank accounts while you are in bk13? Like to see what money goes in and out of the accounts

[Flamingo]

Usually not but if there is reason for suspicion he/she can. Trustees also can require copies of yearly tax returns, state and federal, to monitor your financial situation.

[sadandconfus]

Usually not but if there is reason for suspicion he/she can. Trustees also can require copies of yearly tax returns, state and federal, to monitor your financial situation.

What is an early buyout and how did you do it? Also if my wife started working again after we started paying on the chp13. Will her income have to be disclosed to the trustee?

[crookedoak]

I was in 60 month plan ( old law . I made extra payments to get out early ( 10/08 and 11/08 ). Just waiting on Trustee to complete audit before discharge. Attorney says that they have until June 4th to complete.

[sadandconfus]

is that allowed in the new law? because since they take all your disposable income now, you would not be able to make larger payments, unless you got a loan or gift from friends or family, or maybe your 401k.

[lrprn]

is that allowed in the new law? because since they take all your disposable income now, you would not be able to make larger payments, unless you got a loan or gift from friends or family, or maybe your 401k.

For those of us who filed new law (after Oct 17 2005), there's nothing in the current bk law that addresses early Ch 13 buyouts like the previous bk law did. Currently the thought in most bk courts is that if a 13er wants to pay out early, that three full years of payments have to be made on time AND 100% of the unsecured debt has to paid off in full. to do so Not very encouraging, is it?

This is still an evolving area of Ch 13 case law, so ask your lawyer what your local district judge and Ch 13 trustees have decided to do. Maybe you'll be lucky and your trustee and bk judge have decided to follow the old law which did not require a 100% payoff - some do.

[crookedoak]

I was in 60 month plan ( old law . I made extra payments to get out early ( 10/08 and 11/08 ). Just waiting on Trustee to complete audit before discharge. Attorney says that they have until June 4th to complete.

To ease the confusion.
My plan originally changed due to moving from house house that I was and included, my vehicles broken down and became unusable.
I made 2 additional payments of 360.00.

Now I sit and wait