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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Bankruptcy and TD Maturity Posted by Ward-CA- on November 15, 2003 at 1:32 AM In Reply to: Bankruptcy and TD Maturity posted by Jim on November 13, 2003 at 6:57 PM : When a TD matures while the trustor is in Ch. 13 BK, is the plan "pierced", making all arrearages and P&I immediately due and payable upon discharge or do the arreages and the costs to protect your TD remain in the "plan" subject to the payment plan and time-line presented by the debtors attorney? : Thanks! ================ Jim, I'd imagine that the payoff of a ballooning trust deed that occurs during the pendency of a bankruptcy would have to wait until the bankruptcy was dismissed. That's because the petitioner has been allowed a reduced payment plan until she can get on her feet financially. Thus a sudden lump sum payoff would defeat the purpose of her workout agreement with all her creditors. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : When a TD matures while the trustor is in Ch. 13 BK, is the plan "pierced", making all arrearages and P&I immediately due and payable upon discharge or do the arreages and the costs to protect your TD remain in the "plan" subject to the payment plan and time-line presented by the debtors attorney? : : Thanks! : ================ : Jim, : I'd imagine that the payoff of a ballooning trust deed that occurs during the pendency of a bankruptcy would have to wait until the bankruptcy was dismissed. That's because the petitioner has been allowed a reduced payment plan until she can get on her feet financially. Thus a sudden lump sum payoff would defeat the purpose of her workout agreement with all her creditors. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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