Mckinney, TX asked in Bankruptcy for Texas

Q: Ch 13/60 months.During plan rec’d bonuses. Do I have to go the full 60m or will it stop once I hit the base plan value

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: If you pay it off early, it terminates early.

Michael Francis Barrett
Michael Francis Barrett
Answered
  • Bankruptcy Lawyer
  • Buffalo, NY

A: The answer often depends on your local practice. If your plan is not paying 100% to unsecured creditors, an increase in income may be a basis for you to pay more through your plan. Check with your attorney (or if you filed without one, call around for one) before making any extra payment not provided for in your plan.

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