what happens if I've paid 5 months ....

[secondtime2]

into th plan and somehow I don't get confirmed? Do you lose your money if it does not go through?

[indebt00]

interesting question.....

[lrprn]

into th plan and somehow I don't get confirmed? Do you lose your money if it does not go through?

It depends on why you don't get confirmed. Understand that confirmation can take quite some time after filing - waiting over a year isn't that unusual - when there are thorny legal issues that need to be resolved first. While the legal dancing continues, you just keep making your payments on time.

If your plan isn't confirmable as your lawyer first files it, then your trustee and lawyer will work together to make it confirmable before your first confirmation date. If they can't agree before then, then legal briefs are filed and the bk court judge makes the decision whose opinion will win. Then your plan will be confirmed after the bk judge rules.

The only reason you would lose all the money paid into your plan is if your case is *dismissed* due to lack of payment or fraud.

[secondtime2]

Thank you for your response!

[HHM]

Generally, yes, if your plan is not confirmed, you would receive a refund of any moneys paid into the plan.

[tigergem]

Too bad you can't draw interest on that savings plan, eh?