Our bankruptcy was discharged 4-1/2 months ago and we have been saving every penny we could ever since we started the process. The only item we kept and have continued to pay on is my vehicle. We would like to pay off the remainder of the loan but are unsure if we have to wait a certain number of months before we can or if red flags will be raised anywhere if we pay it off too soon. Does anyone know if there's a certain amount of time we have to wait? Thanks.
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Once discharged and closed, your finances are your own business. You can pay anyone you please anytime you please. -
Ditto!Filed August 20
341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!!Comment
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We pinched pennies and saved after our discharge to pay off our car also and paid it off 5 months after discharge.Comment
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I actually gave up my car and got a new car loan only because I wanted to strengthen my credit score. I'll try to pay it off next year.Filed August 20 341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!!Comment
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How about paying off a debt when the filer has been discharged but not closed? We can pay off a lien that is protected in our BK but we are not closed. My thoughts are if we pay it off then it has value beyond the protected amount and it may attract interest to the Trustee. Thoughts?Comment
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Unless you're an asset case, closing should occur shortly after discharge. I'd just wait until you're offically closed.Originally posted by angles View PostComment
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Our car still had about ten months to go before it was paid off when we filed. We were an Asset case, but the car was 'Abandoned' as being 'fully encumbered' by the loan, even though we only had the fairly short time left. It was paid off after we were Discharged, but well before our case was Closed. There was no problem.
Welcome to the Forum, BTW. Please excuse my lapse of manners.
"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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