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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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Hello, I am in chapter 13 and in a 18% 60 month plan. I am

Customer Question

Hello, I am in chapter 13 and in a 18% 60 month plan. I am in month 55 with only 5 month left of my 60. I only only owe $3000 and then I will be at my plan amount of $38,000. Would the trustee let me payoff the remaining balance to get out of chapter 13? Also I was only making $16.00 hr. when I filed. Since I filed I have go e up to $29.00 hr. with making more money should I even ask the trustee or just let it run the 5 extra months? I'm afraid the trustee will make me pay more since I'm making more. Thanks.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 3 years ago.


Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on


You should not pay the 5 months early,


if you do the trustee could force you to pay the 5 months remaining and keep the extra to pay creditors,


Even if your income has increased, their is no benefit to pay the plan early, it is best to pay the 5 months on time, as you will not have any issue of overpaying the creditors.

Customer: replied 3 years ago.

where would it be in my plan? i looked and a lot of it is like reading a foreign language... thanks.

Expert:  WALLSTREETESQ replied 3 years ago.
it should be stated clearly on the plan if it is not their you would not have to turn over your returns.
Customer: replied 3 years ago.

nothing is clear on there!!!!

Expert:  WALLSTREETESQ replied 3 years ago.
if their is nothing regarding tax returns, you are fine, also if the trustee has never sent a letter requesting it, you would not have had to turn it over.

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