1 year left but payments don't cover balance

[Eric958]

I have 1 year left on a 5 yr plan. My 12 payments add up to $6000 but National data center says balance is $10,200. Will they extend my payments for another 6 mths??

[Anonymous]

no once you complete the 5 years yo are done> all the remaining debt is wiped away

[Eric958]

Kool!! Thanks

[Anonymous]

Correct with wiped clean unless you amended the plan somewhere for a hardship or suspension of payments that would have extended your plan.  This could happen for instance if lost your job and asked for temp relief from plan payments in order to find a new job.  If you missed 3 months with an approved suspension, you would then have to make 3 more months of payments to fix the arrears at the end of the 60 months.  

[Vegas4Play]

That is not necessarily true ( plan stops at 5 yr mark, done ) your plan can continue until completed, I would speak with your lawyer for certain