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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31781
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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In chapter 13 , payoff is $52,000 2 1/2 years left. looking

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In chapter 13 , payoff is $52,000 2 1/2 years left.
looking at using 401k to payoff and then paying off 401k in 3 - 5 years at 4.5%
payments in chapter 13 are $2000 a month.
401k payment would be $920 a month.
Need advice??

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.

 

If you can get the money together to rid yourself of the bankruptcy early, that's a good option. However, it will put a considerable strain on your retirement account until you can pay this back.

 

The best news is that your monthly payment amount will be less, but it will take you twice as long to pay it off.

 

However, the quicker you can get past your bankruptcy and the 7 year reporting period to credit agencies, the better.

Roger and 3 other Bankruptcy Law Specialists are ready to help you