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Is there any way you can pay off a chapter 13 bankruptcy early?


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Answered 2011-04-11 05:52:19

Try contacting the Bankruptcy court that handled your bankruptcky case and see if the clerk of the court can answer the question, if they can't answer the question, ask the clerk to see if they can refer you to someone who can answer this question. Also do some research and see if any lawyers will do pro bono "free" work to help you answer the question. I am not a credit expert of any kind, I hope these suggestions help

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Will your credit score go up if you pay your Chapter 13 off early and if so how much of a boost can you expect to see?

You credit score will not go up if you pay your Chapter 13 off early. Your credit score is not directly tied to every step of your bankruptcy.


How does chapter 11 bankruptcy affect you?

Chapter 11 bankruptcy allows you to reorganize your debt so that you may pay it off. But it is not for everyone. You should contact a lawyer to see if you could even qualify for Chapter 11 bankruptcy.


Can you keep your cars in a chapter 7 bankruptcy?

Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off your current debt.


Whats the difference between Chapter 7 and Chapter 11 bankruptcy?

Chapter 7 bankruptcy is a final liquidation of the company. Assets are sold off to pay debt. Chapter 11 bankruptcy is a rehabilitation bankruptcy. The company (or individual) is given a chance to retain their assets and get their financial status back on firm footing.


What is chapter13 bankruptcy?

Chapter 13 bankruptcy is one of two forms of bankruptcy available to private citizens. The other form being chapter 7-the most common form of bankruptcy. Chapter 13 is a restructuring form of bankruptcy. Unlike Chapter 7, it allows the filer to pay off his or her debts over time-thus lessening to severe crush to credit of Chapter 7.


Can you keep a car if you file for chapter 7 bankruptcy in Florida?

Can I keep my paid off autos if I fie bankruptcy?


What is a charged off loan when connected to Chapter 13 Bankruptcy?

A charge-off is a tax-related matter and has nothing to do with bankruptcy. The debt is still owed.


Can creditors classify an account as a charge off because it was included in a chapter 7 bankruptcy?

Of course. A charge-off is a tax benefit and has nothing to do with your bankruptcy.


What are the difference between Chapter 7 vs Chapter 11?

The difference between Chapter 7 bankruptcy and Chapter 11 bankruptcy is what happens to a party during the process. Parties undergoing chapter 7 bankruptcy must sell of their assets in an attempt to pay off dept. Chapter 11 allows for one to attempt to maintain their assets. During chapter 11 bankruptcy the party must negotiate with creditors to stay afloat.


What is the difference between chapter 11 vs chapter 7 bankruptcy?

The major difference between Chapter 11 bankruptcy and Chapter 7 bankruptcy is that Chapter 11 offers more flexibility so that debtors can negotiate terms without having to sell their assets. Under Chapter 7 bankruptcy, the debtor's assets are almost always sold to pay off their debt. Chapter 7 also features a level of debt forgiveness, whereas Chapter 11 does not.


You are in your 47th month of a 60 month chapter 13 bankruptcy plan was never late with trustee or your mortgage you are waiting for court approvel to pay off early what are my chances of getting ap?

Your chances of getting approval to pay off a chapter 13 bankruptcy plan after 47 months is good. The court will review all information including the ability to pay off the plan.


Can a medicail bill for a veterains hospitail be charged off in chapter 7 bankruptcy?

Medical bills can be discharged through a bankruptcy.


Can you sell a vehicle that was included in a Chapter 13 bankruptcy case and is not yet paid off?

No


Can a person file for ch 7 bankruptcy even though he is still in ch 13 bankruptcy?

Yes and no. No you cannot file for two types of bankruptcy at the SAME time. But yes you can file for chapter 7 bankruptcy if you were unable to complete chapter 13, which is very common. This can be done once for any reason, without court approval. However, to switch back, approval of the bankruptcy court is required, and they will rarely allow a debtor to make multiple switches. Note that in switching from Chapter 13 to Chapter 7, much of the debtor's property is now up for grabs to be sold off to pay his or her debts. However, if the debtor cannot make the payments under a Chapter 13 bankruptcy, switching to Chapter 7 may be his or her only option.


Can you pay off a chapter 13 bankruptcy early?

Try contacting the Bankruptcy court that handled your bankruptcky case and see if the clerk of the court can answer the question, if they can't answer the question, ask the clerk to see if they can refer you to someone who can answer this question. Also do some research and see if any lawyers will do pro bono "free" work to help you answer the question.


Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?

If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.


Can a HELOC that is charged-off by the lender be included in a chapter 7 bankruptcy?

It has to be included in a bankruptcy filing. A charge-off is a tax break for the lender. It has nothing to do with whether the debt is still owing.


Can you file a chapter 7 bankruptcy after a chapter 13?

Yes, and this happens often. A debtor who cannot meet the obligations of the payment plan imposed by Chapter 13 Bankruptcy may wish to switch to Chapter 7. This can be done once for any reason, without court approval. However, to switch back, approval of the bankruptcy court is required, and they will rarely allow a debtor to make multiple switches. Note that in switching from Chapter 13 to Chapter 7, much of the debtor's property is now up for grabs to be sold off to pay his or her debts. However, if the debtor cannot make the payments under a Chapter 13 bankruptcy, switching to Chapter 7 may be his or her only option.


When a creditor is paid-off through a Chapter 13 Bankruptcy is the creditors information automatically removed from your credit history?

No. Sometimes it will be reported as "Included in Bankruptcy"


What is the difference between a chapter 13 and a chapter 11 bankruptcy?

To somewhat oversimplify: Chapter 11 is "reorganization" for Corporations or a business, & Chapter 13 is a very similar thing for people. Debts and life are paid off/down and things re-organized. Chapter 7 is flat-out, busted-broke bankruptcy - out of business, not a penny left.


How long after filing chapter 7 bankruptcy comes off of your credit reports?

10 yrs. after its dismissed.


Can someone put a lien on your paid off boat before you file chapter 7 bankruptcy?

Sure


What happens to surrendered property in a chapter 13 bankruptcy?

It's usually sold or auctioned off by the lienholder.


When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?

no


What is a straight bankruptcy?

Basically, a straight bankruptcy means a Chapter 7 "No Asset" Bankruptcy. This type of bankruptcy is of the simplest form, and I say the simplest because there are no assets involved, and/or if there assets such as a home and vehicle, they are secured as collateral and are under water, such that a trustee would not be interested in selling off for the benefit of the creditors. A Chapter 7 Bankruptcy "No Asset" pretty much takes about 3-5 months from filing to discharge, the goal being to liquidate, if any and obtain a fresh start. Call me at: 1-888-291-6682 for any bankruptcy related questions. I am a licensed California Attorney.


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