Bankruptcy and SOL

05-03-2002, 03:50 PM

jarvist

Guest

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Bankruptcy and SOL

State of Texas

I am a codebtor on a car note. If the other party files chapter 13 bk, I assume from reading the US BK Code that I will be protected as long as case is not dismissed for missed payments, etc., or converted to a chapter 7. Is this a correct assumption? Secondly, I read that you can prolong your Ch. 13 payment plan for 60 months now instead of 36 months. Is this also correct? And if so, who decides for how long your plan can run? Lastly, if I (the codebtor)am protected under the Ch. 13 stay for 60 months, and the plan does not pay the entire balance due on the car, after the plan is completed will I be protected from any further harassment by the creditor because the statute of limitations has run out after 48 months?

Any help is greatly appreciated! THANKS!

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