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Yes, you can pay a lump sum on a Chapter 13 bankruptcy plan without changing the original amount owed, as long as the payment is made in accordance with the plan's terms. This often helps debtors pay off their obligations more quickly and potentially reduce interest or fees. However, it's important to consult with your bankruptcy attorney to ensure that the lump sum payment aligns with the court's approval and the plan's requirements.
What else can I help you with?
What is the the amount of increase the orginial amount is 50 and the new amount is 80?
The increase is 30. 30 is 60 percent of the original 50 so this represents a 60% increase.
Why you pay more if you take things on credit and loan?
Because we paying the orginial amoutn and interest amount together.
What is the average amount of pages in a chapter of a typical book?
The average amount of pages in a chapter of a typical book is around 10 to 20 pages.
What is the maximum personal loan that can be discharge in chapter 7?
Chapter 7 has no maximum loan amount.
How much debt is adequate for a chapter thirteen?
There is no minimum amount.
Why am i paying for a car in chapter 13 bankruptcy that i don't have?
Depending on the circumstances, you may be able to adjust that amount or file for a chapter 7 if you're eligible.
If behind on Chapter 13 payments can a dismissal be prevented or reversed if payment is made for past due amount?
It can't be reversed, but if it is dismissed without prejudice, you can refile a chapter 13 six months from the dismissal date. The best option is to meet with the trustee to discuss the problems with the schedule that the person now has to see if it can be modified.
Do you have to repay everything when filing Chapter 13 BK?
The amount you pay in Chapter 13 bankruptcy depends on your state. In general, you will not have to pay all the debt you owe.
Can you keep rental property chapter 7 IL?
As long as any equity you may have on the house is under the exemption amount and you would otherwise qualify for a chapter 7.
What is a Chapter 20?
As an unknown individual at the Doney & Associates law firm surmised, "there is no real Chapter 20, but we bankruptcy attorneys amuse ourselves by proving that we can add." A Chapter 20 is when you file a Chapter 13 right after a Chapter 7. One reason some people do this is because you cannot stop a home foreclosure with a Chapter 7, but you cannot file a Chapter 13 if your unsecured debt exceeds a certain dollar amount. So, if someone's home is being foreclosed but their unsecured debt amount exceeds the limit for a Chapter 13, those persons may file a Chapter 7 and wipe out the unsecured debt, then file a Chapter 13 and stop the home foreclosure. Some Courts frown on Chapter 20's since they see it as an unfair manipulation of the bankruptcy code.
How much do you have to owe to file chapter 7?
There is no statutory amount needed to file bankruptcy. With the new bankruptcy reform it may be difficult to file a Chapter 7 if the person has even a small amount of expendable/nonexempt assets. One of the objectives of the new BK regs. is to require more debtors to file a Chapter 13 rather than a 7.
Can a mortgage company add past-due payments that were included in a chapter 13 to the amount owed on a house and increase monthly payments to make up for the amount added?
Absolutely not, once a debt is covered by chapter 13 bankruptcy. That debt and its interest rate can no longer be billed for.
