What are my options for ending a Chapter 13 plan earlier than proposed?
I'm approaching the 4 year point of a 5 year plan. The plan called for all unsecured debts to be paid at least 60%, which will occur at the end of this next payment. How do I get a discharge, even though the original plan called for 60 payments? I have always made my plan payments on time and just want this to end.
You can if your plan pays off 100% of all of your bills. If your plan pays all of the creditors 100% of the debt, you can pay off your plan at any time. However, since most Chapter 13 plans significantly reduce the amount of money you have to pay back to creditors in order to discharge all of your debts the trustee may object to an early payoff. This is because the bankruptcy code allows the trustee and unsecured creditors to require that debtor pay all of their projected disposable income into the plan. The trustees that object to early payoff believe that they should be able to increase the amount paid into the plan if the debtor's disposable income increases during this period, and if an early payoff is allowed they will not be able to do this.
Since you want to terminate a 5-year plan in only 4 years yet pay off just 60% of your debt, I don't think that early termination is an option for you here.