Chapter 13 bankruptcy allows debtors to pay off their debts over a span of three or five years. If you are considering filing Chapter 13, you could be wondering if you will have the option to pay off your plan early.
There’s no way to predict what your financial future will look like with complete accuracy. In the event you were to come into money or experience a significant bonus or raise at work, you may want to attempt to pay off your Chapter 13 early. While early payoffs are technically permissible, we’ll explain why they are not advisable in most situations. Keep reading to learn more, and refer to a Florida Chapter 13 bankruptcy attorney for specific recommendations regarding your case.