QUESTION
If my ex-wife is filing chapter 13 and she owes me for our son's loan 50 percent, can I collect interest on the money she owes me?
Asked on Feb 02nd, 2017 on Bankruptcy - Wisconsin
More details to this question:
It is stated in the law decree her attorney sent me a 5 year plan to pay it back to me but there is no interest included. The loan is a student loan debt.
5 ANSWERS
Meet with a lawyer face to face. The lawyer will charge you for their time, but you don't want to meet with a lawyer who has no confidence in their own legal abilities.
Answered on Apr 11th, 2017 at 8:07 AM
Unless you and your ex wife signed the student loan together, what your divorce decree provided is now meaningless. I doubt you will be able to collect even a penny for reimbursing your son for his student loans, so the interest would not be collectible either.
Answered on Apr 08th, 2017 at 7:06 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Generally, interest is not paid on debts in Chapter 13. In order to determine whether interest is payable on this debt it would be necessary to read the divorce decree.
Answered on Apr 08th, 2017 at 7:06 AM
1 Award
No, you can not collect interest. Her liability to pay that is eliminated through the chapter 13.
Answered on Apr 08th, 2017 at 7:06 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Generally no. You can only collect interest if there is enough money being paid into the Plan to pay 100% of all allowed unsecured claims.
Answered on Apr 07th, 2017 at 6:52 AM