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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I filed chapter 13 bankruptcy in Va. I told my bankruptcy

Customer Question

I filed chapter 13 bankruptcy in Va. I told my bankruptcy attorney about my Personal Injury case pending and she said that was ok. Well the case setteled for $15,000 for me after attorney fees and cost. Now my bankruptcy attorney says (1) I have to pay out monthly $265 paymentsof 3 years,or (2) extend them for 4 years or (3) surrender $ 3000 to the Trustee. I paying out at 100% to my case now. The creditor deadline I am told is the end of Sept. What should I do and is there any other options ? Thanks for any guidenace.

First timer and hope to be the last.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 8 years ago.
I WOULD SEE IF YOU CAN EXTEND FOR 5 YEARS, ALSO MAKE SURE THAT THE BANKRUPTCY ATTORNEY CAN EDIT YOU PAPERS TO ADD THE ONE TIME 15,000 PAYMENT TO YOUR INCOME, BUT THAT THE FUTURE INCOME WOULD NOT REFLECT THE SETTLEMENT, ALSO DEPENDING ON YOUR STATE IT IS EXEMPT
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
Why extend for 5 years ? would that lower my payments ? She recomended 4 but at the same paymets of 265. Thanks for you help.
Expert:  WALLSTREETESQ replied 8 years ago.
5 years lowers the payments, as the debt extends over 60 months from 48 months.