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

In Virginia, when filing a Chapter 11 bankruptcy, you must still make payments towards your creditors. This is known as continuing payments. These payments will be dependent on your particular situation and the payment plan that has been agreed upon in your bankruptcy case. This plan is typically created by the debtor (the person filing for bankruptcy) and their creditors, and will involve regular payments for debt repayment. For example, you may make payments every month or every quarter, depending on your financial situation. However, some creditors may be able to collect payments more frequently than what is laid out in your bankruptcy plan. This can happen when the court feels that the creditor is at risk of not receiving any repayment of their debt. When making payments to creditors during a Chapter 11 bankruptcy, it’s important to note that the payments will be adjusted for inflation. This means that any payments made to creditors will be adjusted based on the current inflation rate. In addition, the debtor may be able to negotiate with their creditors to lower their payment amounts or interest rates. This can be done in order to help the debtor during their bankruptcy and to help make the process less difficult. Overall, during a Chapter 11 bankruptcy in Virginia, the debtor will be required to make payments to their creditors under the payment plan that has been agreed upon. The payments will be adjusted for inflation, and the debtor may be able to negotiate with their creditors to lower the payments or interest rates in order to make the process less difficult.

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

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