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Can I Pay Off My Chapter 13 Bankruptcy Early?

Bankruptcy Law The short answer to this question is yes, but there is a right way to do it and a wrong way to do it.  If you would like to make an extra payment every once in a while, that's OK.  However, if you want to make a large, lump sum payment, we suggest you speak to your attorney first.  

The first question your attorney will have as well as the court is where you got such a large sum of money.  If the sum is coming in the form of a loan (even if from a family member), you will need to get court approval of that borrowing first.  This also applies to lawsuit settlements or a worker's compensation claim.  The source of funds is also important to the court to determine whether the payment plan you worked out with your creditors when you filed is even still fair. 


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