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Getting New Loans While in Chapter 13

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  • 09-07-2016, 08:10 AM
    lawfacts
    Getting New Loans While in Chapter 13
    I'm in Chapter 13 bankruptcy. I got additional loans without the trustee's permission, and now I'm struggling to pay them as well as my Chapter 13 payment. How much trouble am I in?
  • 09-26-2016, 02:47 PM
    Mr. Knowitall
    Re: Getting New Loans While in Chapter 13
    You made a mistake that puts your Chapter 13 plan in jeopardy, so you should consult your bankruptcy lawyer. Depending on the type of debt and reasons you incurred the debt, it may be possible to have them rolled into your repayment plan -- but time isn't on your side and your new creditors may not agree to that resolution. If you delay to the point that you default on your Chapter 13 plan, you may end up having your bankruptcy discharged and having to repay 100% of all of your debts.
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