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  1. #1

    Default Payments to Creditors in Chapter 13

    My question involves bankruptcy in the state of: Pennsylvania

    I filed my bankruptcy in 4/2007. So I have about 16 months paid of my plan already. I am on a 5 year plan. I was able to log in my account ... and see the status of my bankruptcy. It shows I paid $5728 so far and owe $15000 more on the plan. Then it lists the creditors and has all the amounts to which I owe each one. (which is a whole lot more then my plan total). No payments have been disbursed to the creditors yet.

    Is there a reason that no payments have been made to them? Also, what determines how much each creditor gets? I owe the creditors a whole lot more then what my total plan is, so once the plan is done, I am clear of the creditors coming after me for the difference?

    Thanks!

  2. #2
    Join Date
    Sep 2005
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    Default Re: Payments to Creditors in Chapter 13

    Ask your bankruptcy lawyer or the trustee what is going on.

  3. #3

    Default Re: Payments to Creditors in Chapter 13

    I emailed my attorney the question, still waiting for an answer. Is there any reason they would hold all the funds I have sent and not dispurse anything?

    I have about 15K left on my plan to pay yet, and 44 months left. If I was able to get money from relatives, could I pay the 15K and finalize the bankruptcy early?

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Payments to Creditors in Chapter 13

    If you attempt to prepay more than 36 months into your plan, you risk being held 100% responsible for your debts. Talk to your lawyer about your ideas.

  5. #5

    Default Re: Payments to Creditors in Chapter 13

    aghhh! I see.. I don't have that kind of money now anyway... but hope to end it 1-2 years early if I can do it.


    I am really worried why they wouldn't be paying the creditors and just holding the funds. ever heard of this? Any reasons why this would happen?

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