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CalAttorney2, Attorney
Category: Bankruptcy Law
Satisfied Customers: 10244
Experience:  Civil litigation attorney for individuals and businesses.
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Can you pay a lump sum in Chapter 13 to reduce your monthly

Customer Question

Can you pay a lump sum in Chapter 13 to reduce your monthly payments. For example, If I had 25,000 in the bank, can I give the trustee 10,000 to reduce my monthly payments.
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  CalAttorney2 replied 2 years ago.
No, but it may be possible for you to negotiate an early termination of your Chapt. 13.If you are in this type of financial position, talk with your bankruptcy attorney (if you don't have one, retain one - you need a lawyer to negotiate this type of deal for you). See: debtors find it much better to simply start rebuilding their financial portfolio with a savings account or investment account.