When must I pay my creditors during a Chapter 11 bankruptcy?

In Oklahoma, creditors must be paid in full during a Chapter 11 bankruptcy. This means the debtor must have enough money to cover all of the debts owed to creditors. The debtor must propose a plan in order to pay all debts. This plan must be approved by the court. It must also provide for a re-payment of all of the creditors’ claims in full, although it can allow for some of the claims to be paid over time. The court will review the debtor’s plan to make sure it is feasible, and creditors will have the chance to object to the plan. Once the plan has been approved by the court, it cannot be changed without the agreement of the debtor and all creditors. In addition, the debtor must pay all debts that are due and payable on the date of the filing of the bankruptcy. This includes debts that may not be fully covered in the plan. The debtor must also pay ongoing payments such as rent or mortgage payments. Finally, the debtor must continue to pay certain debts that are not dischargeable in Chapter 11, such as student loans or child support payments. If these payments are not made on time, the debtor could potentially be held in contempt of court. Overall, Chapter 11 Bankruptcy Law in Oklahoma requires that the debtor have enough money to pay all of the creditors in full in order to be successful. The court must approve the repayment plan and the debtor must pay all debts due on the date of filing, as well as any ongoing debts not dischargeable in Chapter 11.

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When must I pay my creditors during a Chapter 11 bankruptcy?

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