By Stacey A. O’Stafy, Staff Attorney, Office of the Chapter 13 Trustee Faye D. English (Columbus, OH)
An above median Chapter 13 debtor settles a workers’ compensation claim and wants to use the exempt settlement proceeds1 to pay off her 100% dividend plan in month 38 – can she? In this simple scenario, the answer is yes. Pursuant to 11 U.S.C. § 1325(b)(4)(B), the applicable commitment period “may be less than 3 or 5 years, whichever is applicable under subparagraph (A), but only if the plan provides for payment . . .
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