What to do if I am currently in a Chapter 13 and my financial situation has improved?

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What to do if I am currently in a Chapter 13 and my financial situation has improved?

I want to dismiss my case and deal with my creditors again and hopefully come up with a payment plan. I had a judgment against me and a wage garnishment prior to bankruptcy. Do you think the law firm that has the garnishment on me before the filing will work with me on a settlement if I give the a good faith down payment or just enforce the judgment?

Asked on July 11, 2013 under Bankruptcy Law, Michigan

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I would speak with a bankruptcy attorney before you do anything about dismissing the Chapter 13.  Once the protection is gone you will be liable for the original debt amount AND all the interest on the judgement.  It is not necessarily a good thing ever to do that.  Please get help. Good luck.


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