Hudson Weir

JANUARY 26, 2024

A restructuring plan can be used for numerous debt restructuring purposes, such as: Debt rescheduling A compromise in the amount of debt Refinancing Arrangements can be made with both secured and unsecured creditors under a restructuring plan. How does a restructuring plan work?

Unsecured Creditor 52

Unsecured Creditor Creditors Secured Creditor Unsecured Debt 52

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.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Unsecured Creditor Unsecured Debt Debtor 52

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.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

JANUARY 4, 2024

Chapter 13 bankruptcy involves entering into a reorganization plan to protect assets, catch up on arrears on houses or cars, and force unsecured creditors to take reduced amounts based on what the bankruptcy law requires that you pay them. Over three to five years, you resolve your debts and get a fresh financial start.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

PBWT

FEBRUARY 7, 2021

The plan proposed to pay unsecured creditors $300,000 over five years and to make regular mortgage payments to the secured creditors. Just seven unsecured creditors voted on the plan, all in favor. Harris County voted to accept the plan. Bressler had obtained the required votes to confirm the plan.

Creditors 73

Creditors Bankruptcy Unsecured Creditor Unsecured Debt 73

Sawin & Shea

APRIL 17, 2024

The reason why creditors prefer you file Chapter 13 is because Chapter 7 bankruptcy discharges unsecured debts after the trustee liquidates nonexempt assets. This means that unsecured creditors, such as credit card companies, won’t receive what the debtor owes.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Sawin & Shea

JANUARY 12, 2022

That money will go to your Chapter 13 trustee, who will then distribute it amongst your creditors. A Chapter 13 Plan can help get you back on track with secured debts that you are behind on, like house or car payments. After the repayment period, any remaining debt will likely get discharged. Debts That Can Be Eliminated.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Student loans 52