Almost done, except car wreck!

[IM2Stressed]

I anticipated making my last scheduled plan payment on April 30. Things were looking good and then, WHAM! One or two vehicles got totaled in an accident several weeks ago (other party liable). Unfortunately, it was an old vehicle and I only got $3800 settlement. I had anticipated replacing this vehicle shortly after discharge, but ... $#*+!

On top of this I am getting a 10% salary cut for the next 6 months.

So close.... I can almost taste it. I certainly don't want to rock the boat, but I did contact the trustee's office to see if I can provide a payoff (I'm in a 100% plan) to shorten the time to discharge. The trustee's office pays out to claimants around the 20th each month. If I just follow my payment schedule it my discharge process would not start until after May 20. I thought I may be able to get the process started on April 20.

I just don't know if it is better to payoff with the settlement money or just try to buy a junker with it? Ideas?

[spidge]

Bad timing for sure, but what do you hope to gain by paying early? Are you more likely to get a loan or are you thinking that the trustee payment could easily be replaced by a car payment without to much strain?

I would by the used car. If you get lucky you could drive it until you have more banked for a newer car. It's only for a while. Don't get caught up in an opportunity to get into debt for a car.