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CHAPTER 13 BK, AND LOOKING TO DISCHARGE EARLY WITH CSB/REDUX CHECK. (MILITARY)

stingexy
Member

CHAPTER 13 BK, AND LOOKING TO DISCHARGE EARLY WITH CSB/REDUX CHECK. (MILITARY)

Hello Friends, I just recieved by 6 month letter alerting me I can opt for CSB/REDUX with a $30k cash incentive.  I know that this is a huge cut on my retirment (10%), but I want to take it because looking at my situation right now, I am paying 1070$/month with a 100% repay on my bankruptcy that has about 20 months left before I discharge.  I am of the opinion, if I take this money and discharge early in May 2015, it would give me more time to build up a substantial savings and my credit history.  At the time of me paying off my Bankruptcy, I calculated that it would be about 12k, I would have to pay my trustee to recieve a discharge. I have not spoken with my attorney as of yet on this but I am pooling your thoughts on this matter.  Thanks.  

CURRENT FICO:
1/2015: EQ: 544 EX: 600 TU: 582.
12/2014: EQ: 598 EX: 576 TU: 488
07/2014: EQ: 556 EX: 537 TU:500
Message 1 of 3
2 REPLIES 2

Re: CHAPTER 13 BK, AND LOOKING TO DISCHARGE EARLY WITH CSB/REDUX CHECK. (MILITARY)

Now everyone can buy their way out Chapter 13 ahead of schedule. However, because you are in a "100%" plan, it should be possible in your case. When feasible, I think it is a good idea to get out early, and move on with your life.

Message 2 of 3
mynameainttracy
Established Contributor

Re: CHAPTER 13 BK, AND LOOKING TO DISCHARGE EARLY WITH CSB/REDUX CHECK. (MILITARY)

We were told that we could request an early payoff through our attorney but if we did we better be serious about it. It required extra work for the Trustee's office which was already way under staffed. Contact your attorney and see if it is an option in your area.

Message 3 of 3
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