If a person who is bankrupt has been ordered by court to pay for an additional 12 montsh because they have high income, are they discharged at the end of the 9 months or or do they not get discharged until the 21 months are done and all the payments have been made?
Extension due to Surplus
Posted on Thursday, January 31, 2008
posted by Questions @ 11:10 pm
1 Expert Comment:
At February 4, 2008 |
8:41 am
, Barton Goth GCO Bankruptcy Trustees Said...
Typically speaking if you have what the court interprets as “substantial surplus,” then the court will require payments for a longer period of time. Now normally we have seen the courts end up with an additional 12 months as you suggest, but it is important to realize that this is not guaranteed, it can be more higher or lower depending on what they feel is waranted.
If this type of order is granted then you are not discharged until the additional 12 months of payments are paid into the estate and cleared the bank.
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