Buy back of assets - Chapt 7 Question

[FloridaFiler]

Has anyone had any experience in buying back assets under a 7 and paying it off earlier than stipulated in the agreement..... and .... Does the time extended for the buy back change anything except pushing back the closing date. Specifically I'm concerned how it might affect the 6 month provision on windfall income.

Thank you in advance for any help you might be able to give me in this matter.

FL Filer

[justbroke]

Specifically I'm concerned how it might affect the 6 month provision on windfall income.

There is no such thing as a windfall provision. The only 180 day provision is for money received via inheritance or bequeath, insurance as a beneficiary from said demise, or some property settlement that's part of a dissolution of marriage. Nothing else counts, despite people thinking the lottery winnings and other windfalls are included in the property of the estate. (11 USC 541).

Does the time extended for the buy back change anything except pushing back the closing date.

The only thing that affects the administration and eventual closing of an asset case is the actual liquidation of those assets and distribution of the pro rata share to the unsecured creditors. In short, administration of the assets in an asset case does not affect the discharge... it only prolongs the closing.