We are about a year and a half into a 5 year Chapter 13 in Texas and have already paid one-half of our plan base amount.
If the plan base amount is paid off before the end of our 5 year plan, will we be discharged before the 5 years is over?
We are about a year and a half into a 5 year Chapter 13 in Texas and have already paid one-half of our plan base amount.
If the plan base amount is paid off before the end of our 5 year plan, will we be discharged before the 5 years is over?
If it's a 100% plan, then paying it off early should get you an early discharge. With plans that involve less than a 100% payoff, paying the plan off before the 36 month mark runs the risk that you will be required to pay off a greater amount; but 100% is 100%.
Thanks Mr. Knowitall! It is a 100% plan. Maybe there is light at the end of the tunnel after all!![]()