Legal Question in Bankruptcy in Texas

I filed bankruptcy in Texas in November of 08 and now we are thinking of ending the bankruptcy and walking away from our house. What happens to the money you pay into a bankruptcy if you choose to quit the bankruptcy

Asked on 8/24/09, 7:14 pm

1 Answer from Attorneys

Rustin Polk

If this is a Chapter 13, the money you are paying in is being used to pay your creditors. It is unlikely that the trustee is sitting on an account that has a whole bunch of your money in it. If you decide to end it, your creditors should give you credit for however much they've received from the trustee so far. If you've been in since November, that won't be a ton of money that's been paid out yet.

Rustin Polk

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Answered on 8/24/09, 7:35 pm

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