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Chapter 13 pay all up front.

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    Chapter 13 pay all up front.

    Is it possible to pay my BK settlement up front in one lump payment ??

    #2
    Only if you pay 100% of all allowed claims.

    Des.

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      #3
      If you had the cash to pay 100% , then why would a person file ?

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        #4
        Originally posted by ABC View Post
        If you had the cash to pay 100% , then why would a person file ?
        The OP is already in BK and may have had his situation improve and his hoping that he can end his plan early by paying off his "plan base". brass598, JustBroke gave you a good explanation of the issue in response to your thread a few months ago:

        If you are referring to your "disposable monthly income" (DMI) payment as a settlement amount, then take extreme caution! Unless you are in a 100% plan, paying more doesn't "pay down" the so-called plan base (expected plan payback)!!! You must either pay the DMI payment every month for the length of your plan, or 100%... whichever comes first.

        There are people who have found out the hard way, that extra payments and even surrendered tax returns, did nothing to end their Chapter 13 Plan early. Please discuss this with your attorney.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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