How do I come up with a repayment plan in a Chapter 11 bankruptcy?

If you are considering filing for Chapter 11 bankruptcy in California, you will need to come up with a repayment plan. You should first speak to an accredited bankruptcy attorney who can help you evaluate your case and provide you with the best advice. When creating a repayment plan for Chapter 11 bankruptcy, you must provide details on how you will pay off your creditors. This plan should include a list of all of your creditors, the amount owed to each creditor, and a timeline for repayment. You must also include a proposed budget that outlines how your income and expenses will be managed during the repayment period. Your repayment plan also needs to include a detailed description of how you will raise the funds to repay your debts. This could involve selling assets, obtaining a loan, or refinancing existing debt. Additionally, you must include information about any possible investments or profits that could be used to help pay off debt. When your repayment plan is complete, it is important to submit it to the court for approval. Once the court has reviewed your plan and accepted it, you must begin making your payments as soon as possible. In addition, you should keep accurate records of your payments and communicate regularly with your creditors. Following these steps can ensure the successful repayment of your debts under Chapter 11 bankruptcy.

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