PBWT
FEBRUARY 7, 2021
This is especially true if you’re a creditor in a chapter 11 case. Two mortgage companies held more than $800,000 in secured claims, and 33 creditors had unsecured claims totaling about $1.1 The plan proposed to pay unsecured creditors $300,000 over five years and to make regular mortgage payments to the secured creditors.
Hudson Weir
JANUARY 26, 2024
Debt restructuring aims to help ease a company’s financial difficulties via an agreement between a company and its creditors. In the first meeting, court permission is sought to hold a meeting of creditors (the Convening Hearing). A restructuring plan is then proposed to all of a company’s creditors.
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ABI
JANUARY 13, 2022
In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] 14] Additionally, a substantial portion of Pizzo’s unsecured debts will be paid through her Chapter 13 plan. [15].
Foster Swift
JULY 8, 2020
A Chapter 13 bankruptcy plan requires a debtor to satisfy unsecured debts by paying all “projected disposable income” to unsecured creditors over a five-year period. In a recent case before the U.S. 1] Read More › Tags: 6th Circuit Court of Appeals , Chapter 13.
Sawin & Shea
JANUARY 4, 2024
Instead of fighting with your creditors, you work with them proactively in the bankruptcy process to resolve your debts. You have already paid your creditors at least as much as they would have received in a Chapter 7 bankruptcy , also known as a liquidation bankruptcy.
Sawin & Shea
APRIL 17, 2024
The court will then order a bankruptcy stay — also called an automatic stay — that prohibits creditors and lenders from collecting what you owe. This plan states that you’re committed to paying back something to creditors in monthly installments, and you detail the minimum amount you’ll pay as well as the duration of the plan.
Sawin & Shea
NOVEMBER 1, 2023
Your medical bills are considered “unsecured debts” which means there is no property that can be taken from you under contract as a result of not paying your medical bills — and most unsecured debts, like medical bills, are eligible for bankruptcy. Your combined total secured and unsecured debts are less than $2,750,000.
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