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

A repayment plan is an important part of the Chapter 11 bankruptcy process in California. The plan is the document that outlines how you will repay your creditors. The repayment plan must be approved by the court and all of your creditors. To come up with a repayment plan, you will first need to calculate how much debt you owe. It is important to be accurate here so that your repayment plan reflects the true amount of money you owe. Next, you must consider how much you can afford to pay each month. This can be determined by looking at your income and expenses and creating a realistic budget. You will need to determine how much of your debt you can repay and over what period of time. To do this, you may need to negotiate with your creditors and propose various repayment options. It may be helpful for you to seek the advice of an attorney before entering into any negotiations. Once you have an acceptable repayment plan, you must make sure it is filed with the bankruptcy court. The court will review the plan and confirm that it is feasible and in the best interests of your creditors. Once the repayment plan is approved, you must make all of your payments on time and in accordance with the plan.

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

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