Procedure for Debtors Seeking Early Payoff in A Chapter 13 Bankruptcy

Procedure For Debtors Seeking Early Payoff In A Chapter 13 Bankruptcy1. THE CHAPTER 13 BANKRUPTCY MUST AT LEAST BE CONFIRMED BY THE BANKRUPTCY JUDGE
AND AN ORDER GRANTING THE CONFIRMATION OF THE CHAPTER 13 PLAN FULLY
ADMINISTERED.

2. A WRITTEN STATEMENT, DATED, SIGNED AND NOTARIZED, BY THE PERSON(S) OR INDIVIDUAL(S)
OFFERING TO ASSIST (THE PAYOR). THE DEBTOR OR DEBTORS IN AN EFFORT TO PAYOFF THE
CHAPTER 13 BANKRUPTCY BEFORE THE EXPIRATION OF THE CHAPTER 13 PLAN. THIS LETTER
MUST CONTAIN:

*PAYOR’S FULL NAME AS STATED ON THEIR SOCIAL SECURITY CARD AND/OR BIRTH
CERTIFICATE
*THE PAYOR’S DATE OF BIRTH AND AGE
*THE PAYOR’S PHONE NUMBER AND EMAIL ADDRESS
*THE PAYOR’S HOME ADDRESS OR POST OFFICE BOX
*A STATEMENT THAT THE PAYOR IS FINANCIALLY ABLE TO TENDER THE ANTICIPATED
PAYOFF AMOUNT, AND THE SOURCE OF THOSE FUNDS
*A STATEMENT AS TO THE REASON WHY THE PAYOR WISHES TO PAYOFF THE DEBTOR
OR DEBTORS’ CHAPTER 13 PLAN.

3. AFTER THE WRITTEN STATEMENT, FULLY COMPLIANT WITH THE TERMS LISTED IN NUMBER 2 OF
THE PROCEDURES FOR DEBTOR(S) SEEKING EARLY PAYOFF, THEN THE BANKRUPTCY ATTORNEY
WILL REQUEST FOR THE CHAPTER 13 BANKRUPTCY TRUSTEE, THE PAYOFF AMOUNT, AND FILE
AN APPROPRIATE MOTION SEEKING EARLY PAYOFF.

4. IF THE CHAPTER 13 BANKRUPTCY TRUSTEE HAS NO OBJECTIONS TO THE EARLY PAYOFF, OR IF
NO OTHER INTERESTED PARTY, HAS SUCH OBJECTION OR SUCH OBJECTIONS ARE OVERRULED
BY THE BANKRUPTCY JUDGE, AND THE JUDGE SIGNS AN ORDER APPROVING OF THE EARLY
PAYOFF, THEN THE CHAPTER 13 PLAN MAY BE PAID, ACCORDING TO THE TERMS OF THE ORDER
GIVEN BY THE BANKRUPTCY JUDGE.

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