Can a chapter 13 be over with in less than 1 year

[puggymoo]

We have until Sunday for our bar date. So far we only have our attorney and 5 creditors that have filed claims. We have enough in our account to pay all this month. This is $3300 in total that have filed. I am not worried about 2 loans because they were charged off for a total of 51k. The house has until Sunday to file a unsecured claim. They have postponed the auction 2 times now. Don't understand why when the stay was lifted at confirmation. The house creditor also didn't object to them not getting any money in our payment plan. We were to pay 100% in 48 months. Has anyone heard of a 13 being overwith early because of the few claims filed.

[BKParalegal]

Yes. A 100% plan can be over as soon as everyone is paid that is included in the plan and filed a claim before the bar date.

Good luck

[Flying2BK]

So....for example you get to the Bar date and you have $25,000 Unsecured Debt that was filed as a claim.

Could you then pay it off via a retirement account and be done with the BK? Instead of making 5 years of debt payments?

My Attorney said this was not possible.

I would rather pay it off and be done with it.......

Can this really work that way?

[despritfreya]

If you cut a check (from whatever source) in an amount that pays all allowed claims and administrative expenses you can be done with it. Once all such claims/expenses are paid it is over no matter if that takes the life of the Plan or some shorter time period.

Des