Reply
Established Member
Posts: 10
Registered: ‎04-13-2011
0

Chapter 13 is almost over, or is it?

We filed almost 5 years ago (ch 13). The primary reason we filed was a dispute I had with a former employer over relocation issue. They ended up filing a lawsuit seeking $120k. We didn't have the money to hire an attorney to fight it, so we ended up filing bk. We included all of our debts in the filing (of course) - and we included and gave our attorney a copy of the lawsuit. Our plan was confirmed with no issues (30% payback). The former employer filed a $120k claim which was consistent with our filing.

We just made monthly payment #57 out of 60. We haven't had a lot of contact with our attorney during the last 5 years. We have made every payment on schedule. I sent an email last week to our attorney asking about when/how the wage order will stop and when to expect the discharge to be finalized.

Here is where the problem is...our attorney contacted the trustee for a payoff and it looks like the former employer's balance (30% payback portion) is still $17k. So now what? We are waiting to hear back from our attorney, we found this out on Friday afternoon so now we have to worry about it over the weekend. We have been very excited about anticipating the end of this 5 year ordeal - we pay about $$1500 per month. Will they extend the plan to 6 years? Do we have any recourse? I assume that between the Trustee, our attorney, my former employer, and us - we will end up on the losing end of this deal.

Anyone have experience with a situation like this?

Highlighted
Contributor
Posts: 92
Registered: ‎09-19-2012
0

Re: Chapter 13 is almost over, or is it?

I thought that in chpt 13 Bk plan after 5 years of payments that's it. 


Starting Score: TU 614 EX584
Current Score: TU 650/EX 650 (Walmart)
Goal Score: 710


Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.