Has anyone successfully paid of their plan early and received an early discharge?
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Filed 12/8/2009
Confirmed 4/6/2010
4 of 36 Payments Made -
We did but we are "Old Law" (prior to the new BK law in effect 10/05). Under the new law, it appears one cannot now buy out early unless 100% of the Plan is paid (unless, however, one's Plan is already at 100%). Under the "Old Law," one could buy out early after three years under the confirmed percentage rate._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
My attorney has told me that its possible. We are in the 9th circuit. I was just wondering if anyone else had done this. We are not a 100% pay plan, but we are under median. So its a 36 month plan. I'm hoping to use a gift or sell and exempt asset to pay off the plan once its confirmed.Filed 12/8/2009
Confirmed 4/6/2010
4 of 36 Payments MadeComment
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I believe I have read in prev/other threads if you pay anything extra it does NOT go towards your plan but DOES go to the creditors (giving them more money) so there is no reason to send in extra money...It just wont work..Those who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15
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