5 yr plan changed to a 3yr plan..

[Carloscda]

Can a person change a 5yr plan to a 3yr at a later time or vice versa?

[maddog2112]

If your paying or willing to pay 100% payback to your creditors and have the extra money for it, I`m sure the trustee would go along with it.

[Carloscda]

Yes I'm doing 100% payback, so I take it if it's a 5yr the payments will be cheaper? Right now they have me at $475, was trying to see if 5yr would cut that in half to have more money in pocket now.
Or just go ahead & pay it off in 3 & get it over with?

[maddog2112]

If your paying back 100%, the idea for the trustee is to get the 100% paid as quickly as possible, dependent on what you have for disposable income each month. If you have enough disposable to pay it back in hree tears, thats what he will want. They may give you a little more leeway as you are a 100% payback. I`m sure others will chime in.