Is it possible to pay my BK settlement up front in one lump payment ??
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Chapter 13 pay all up front.
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Originally posted by ABC View PostIf you had the cash to pay 100% , then why would a person file ?
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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