is it discharged when the papers are finalized, or after the 3 yrs or so that you pay on it? someone please explain this to me.
2006-07-03 12:03:59 · 6 answers · asked by tonysdoll815 2 in Business & Finance ➔ Personal Finance
a chapter 13 is a repayment plan as opposed to a chapter 7 which discharges all debts. it is typical for a chapter 13 to take 3-5 years to be discharged, as that is granted after the payment plan is complete.
2006-07-03 12:06:01 · answer #1 · answered by ny2fl 2 · 1⤊ 0⤋
Usually after you've make the final payment, it will go back to the court to make sure the plan has been fulfilled and your creditors don't have any objections. Once the court approves the discharge, the court will mail you the paperwork proving your discharged bankruptcy. However, be aware that if you're trying for a loan and need this paperwork as proof, it might take a few weeks.
2006-07-03 12:21:56 · answer #2 · answered by Celeste 6 · 0⤊ 0⤋
You should be fine once you get to the end of your repayment plan. Keep your credit clean and you can do most anything from buying a home to starting a business. After my divorce I filed and it totally helped me get started again. Now my credit it perfect. Not a flaw anywhere. The bankruptcy doesn't even show up anymore.
2006-07-03 12:07:40 · answer #3 · answered by van 2 · 0⤊ 0⤋
Your agreement must be paid in full before it will discharge.
2006-07-03 12:50:47 · answer #4 · answered by Lori A 6 · 0⤊ 0⤋
it is discharged when you have completely paid it off.
2006-07-03 12:05:05 · answer #5 · answered by jensarquist 3 · 0⤊ 0⤋
i dont know
2006-07-03 12:06:18 · answer #6 · answered by pookie 2 · 0⤊ 0⤋