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Paying-off Chapter 13 Bankruptcy Early

Detroit, MI |

I am in Bankruptcy, Chapter 13. I would like to pay it off early. I've only been paying for 3 months. Can I pay it off early? Is now too early? Will the court ask for any documentation, ie, bank statements?

Attorney Answers 1


You can pay it off early, but to pay it off early you have to pay off all filed claims 100% (assuming the date to file claims has passed which at 3 months, it's close). If it only pays some of your debts, you will not be able to finish your chapter 13 early because you'll still have disposable income available to pay into the plan. Hope this helps!

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