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  1. #1
    Join Date
    Feb 2007

    Default Discharging Our Chapter 13 Bankruptcy

    We have been in Ch 13 for 3 years now. We gave our truck back to GM after they borrowed Tax money and then filed for bankruptcy-The nerve of them! ( you would think they would be more understanding of our situation) Our truck was the only thing being paid through the trustee, all the CC debts were discharged.

    At this point, there are no creditors left in our CH13 being paid, so my 311.00/month payment goes to the Trustee and the lawyer (who bumped his additional 1000.00 fee in for surrendering our truck)

    We want to pay off the 2 remaining years in one lump sum and get our life back.

    Wells Fargo has our mortgage and the variable rate is currently 3.5%. If we come out of Ch13, can they raise our rates due to poor credit? I can't get a straight answer from anyone at WF.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Discharging Our Chapter 13 Bankruptcy

    If you've been in Chapter 13 for more than three years, you should be able to pay off the balance of the plan and get a discharge without any adjustment of your plan.

    Your mortgage rate is a matter of contract, and as I have no access to the contract I cannot tell you what your lender can do based upon the contract terms.

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