Question by  Tony66 (27)

What percentage do you pay to creditors in chapter 13 bankruptcy?


Answer by  patti (29325)

Talk to your attorney. The cents-on-the-dollar depends on assets v. debt, the nature of the debts, the kinds of assets, etc. There is no across-the-board amount paid the same in all cases.


Answer by  bizgrad02 (103)

This is based on your income, expenses and assets. There's really no percentage per say. The Court is basically setting up a repayment plan for you. This is usually repaid over 36 to 60 months.


Answer by  mlucas (515)

It depends on the creditor. Secured creditors usually get 100% of their Claim while unsecured usually get 10% of their claim. Be careful not to negotiate with creditors without attorney.


Answer by  Dean (4035)

It depends. Assets are determined against debt. Once the liquidity is calculated, the amount to be paid back on the dollar is established. The percent varies, dependings on the holdings of the debtor.


Answer by  MarkWatrous (729)

1) first off, don't do this! 2) The payments to the trustee and the trustee fees will tear a hole in your budget that is equal to 65% of your net income for up to 5 long years. 3) Go borrow or buy "Total Money Makeover" from Dave Ramsey.


Answer by  arrown8606t (24)

There is no standard percentage. Taking into account income, amounts owed, living expenses, etc. , a repayment plan is submitted to the court, which approves or denies it.


Answer by  Tammy (585)

It varies from state to state and is usually ruled upon based on your financial state. The percentage that you pay back. A trustee will be declared by the court to take a close look at your finances to determine the amount your are able to pay back.


Answer by  John (9008)

There is no set amount. It is determined by your individual ability to pay, including both income and assets. The bankruptcy judge ultimately decides, although negotiation is common.

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