In a corporate chapter 11 (small business case) can Debtor "pay off
Posted: Wed Dec 07, 2016 3:51 pm
I know people ask this a lot about chapter 13s, and I know the answer in
chapter 13 is that there's no early payoff without paying 100%.
What happens if you confirm a corporate chapter 11 plan where the
unsecureds get say 20%? If the debtor has a five year plan, can it be paid
off early at the 20% if funds come in or must the debtor devote all
disposable income for the 5 years?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
I know people ask this a lot about chapter 13s, and I know the answer in chapter 13 is that there's no early payoff without paying 100%.What happens if you confirm a corporate chapter 11 plan where the unsecureds get say 20%? If the debtor has a five year plan, can it be paid off early at the 20% if funds come in or must the debtor devote all disposable income for the 5 years?
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