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What happens to all the money that I have been paying for the past 4 years and 10 months. I have received notice that my chp 13 is being dismissed for non payment. I had a stroke and have been out of work for 6 months. I have just started working part time

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what happens to the money that has been paid for the past 4 years 10 months

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Rose,

Welcome to the forum.

Dismissal of BK chapter 13 means that you are out of BK now. The amount you have been paying for last 4 years 10 months is deducted from your due debt. The creditor can come after your due debts now as the BK has been dismissed.

Larry

shayneroy · Joined: 12 Nov 2007 Posts: 51 21.08 Dollars($)

1. It means that you're no longer under Bankruptcy.
2. The money that you've already paid has gone towards your mortgage and now you need to pay the due accumulated.

Caron · Posted: Fri Dec 28, 2007 3:04 am Post subject: RE: chapter 13 dismissal

Shaneroy, I agree with you in the sense that Raamaya is no longer under Chapter 13 repayment plan. And, the money that he has paid must have gone towards reducing the loan balance. I think you're right, Raamaya will have to work such that he can gather funds to pay off the remaining loan amount.

jbarto65 · Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)

true, if you were filing bankruptcy why would you pay on it? If you are talking about the funds that you paid prior to the bankruptcy, consider it gone, paid on the debt, they will not give it back. The company has to recover the money they lent to you some how, they got at least that much on the money anyway. Goodluck, hope you have a much brighter future.

helping_user · Posted: Wed Jan 02, 2008 12:01 am Post subject:

Hi Jbarto,

The thing is, the guy is paying as per the repayment plan followed in a chpater 13 bankruptcy. This is quite diff from chapter 7 wherein one need not pay and the debts are recovered through sale of his assets.

The funds which have already been paid will be gone, true, they won't give the funds back.

I wish ramaaya recovers soon and his life gets back on track.

Thanks.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I would contact your attorney that handled the bankruptcy to see if there is anything that can be done to reinstate the BK. The trustee may reinstate if there was just cause for non payment such as loss of job or other instance that would have caused hardship. Call the attorney asap.

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