Chapter 13 Paying Plan Off Early

[Eppie1983]

Hey everybody,

I had my lawer put a motion in to pay my plan off 3 months early based on getting a loan from my father and paying him back.

He said the previous trustee allowed it and the new trustee said if my case was filed before his time he would allow it.

Any of you guys have any experience with this? I am just wondering if there's any chance it would get shot down?

The motion went in yesterday with objections due by 6/1 and the hearing is 6/8. My lawyer said that once that is complete and I make that last payment, he will swiftly put a motion in to discharge!

[Lurker22]

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@Eppie1983 wrote:

Hey everybody,

I had my lawer put a motion in to pay my plan off 3 months early based on getting a loan from my father and paying him back.

He said the previous trustee allowed it and the new trustee said if my case was filed before his time he would allow it.

Any of you guys have any experience with this? I am just wondering if there's any chance it would get shot down?

The motion went in yesterday with objections due by 6/1 and the hearing is 6/8. My lawyer said that once that is complete and I make that last payment, he will swiftly put a motion in to discharge!

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I asked my attorney about this a bit ago, he informed me my trustee doesn't allow it so 6 more payments to go!

[Eppie1983]

Sorry brother, you are so close!

I am very lucky. Our current trustee does not allow it, but my case was filed like a month before he took over and the former trustee did allow it. So he filed a motion to pay it 3 months early. If all goes well, my last payment is 6/8 and hopefully discharge right after. My dad is lending me the money and I am just going to pay him back over a few months, way less than the plan payment of 1380. Good luck on whats left of your journey!

[madmann26]

If the trustee is ok with it, go for it. 

Just understand that you may not discharge early.

[Eppie1983]

May not discharge early or close case early? He told me once order to pay is approved he will quickly file a motion to discharge.

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@madmann26 wrote:

If the trustee is ok with it, go for it. 

Just understand that you may not discharge early.

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[Eppie1983]

So I make my last payment a week from Wednesday. Do I have to wait for another hearing to get the discharge letter and perform the audit and all that the trustee needs to do? Trying to figure out timeline so I can get cash out to do an addition.

[madmann26]

It can take months to discharge. I paid mine off in March and I'm still waiting.

I signed my 1328 last month.

There are certain timelines that cannot be sped up, one of which is giving your creditors 30 days to object to the dismissal.

[Eppie1983]

Thanks Madmann. 

I am sure it's different state to state, trustee to trustee. I am in Maine. I hear you, I waited 30 days to get a hearing to allow me to borrow for payoff. Got a loan from my father to pay 3 months early. Then I'm not sure if trustee does audit then and sends the payments complete memo or if I have to wait 30 days for the creditors to cash the checks. I guess I don't know the full by the book process. Making last payment is bittersweet though. Even though waiting, the financial burden is over. Congrats on completing your plan too!!

[madmann26]

Have you signed your 1328 yet?

[Eppie1983]

No when is that signed after payments complete?