Paying off your Chapter 13 early?

Several clients have asked me recently whether they can pay off their chapter 13 plan early.  Essentially they would like to conclude their bankruptcy prior to the time specified by their confirmed plan.  A Debtor in bankruptcy can file a motion to approve the early payoff of their chapter 13 plan, however these motions are not routinely granted.  Since being appointed to the Ft. Myers Division, Judge Delano has taken an equitable approach to these motions weighing how long the plan has been confirmed, how many payments the Debtor has made, whether the Debtor’s income could potentially increase and whether the confirmed plan calls for committing tax refunds to the plan.  Ask your attorney if your circumstances would allow you to pay your chapter 13 plan off early.     Here is a case that deals with this issue:  In re: Carreiro 11-17863 (Opinion by Judge Delano).

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