Posted on: 01st Nov, 2009 09:33 pm
If I filed Chapter 13 with approx. 45k of unsecured debt What % of this amount would I be required to pay. I'm sure if varies but is there an average? If I made a large purchase more than 90 days ago can I still file CH:13 or can this jeopardize my claim.
As far as I know, the unsecured debts are discharged when you file Chapter 13 bankruptcy. In case of your secured debts, you will have to go for a payment plan with the lender. In regards to your second question, it would be a better idea to contact an attorney and take his opinion in this regard.
>>45k of unsecured debt What % of this amount would I be required to pay
You never know - it's different for everybody. The guideline says the creditor will never receive less then they'd receive if the debtor filed chapter 7, and that's zero. But if going on a 3 year plan means you're only able to pay your creditors 10 cents on the dollar, chances are you'll be moved out to a 5 year plan, so the creditors can receive more. It's all up to the Trustee.
You never know - it's different for everybody. The guideline says the creditor will never receive less then they'd receive if the debtor filed chapter 7, and that's zero. But if going on a 3 year plan means you're only able to pay your creditors 10 cents on the dollar, chances are you'll be moved out to a 5 year plan, so the creditors can receive more. It's all up to the Trustee.
