Legal Question in Bankruptcy in South Carolina
Chapter 13 Plan
What percentage is allowed for payment of unsecured creditors. I know that Mortgage and support obligations are 100%. Can unsecured be wiped out or paid at a low percentage.
Asked on 4/13/07, 8:12 am
1 Answer from Attorneys
Sheryl Schelin
Law Office of Sheryl Schelin
Re: Chapter 13 Plan
Unsecured creditors can generally be paid at a wide variety of percentages of completion of original debt. Under prior law, some cases even paid out 0%; I'm honestly not sure whether that continues. The facts depend totally on your particular circumstances. For that reason you should speak to a lawyer near you.
Answered on 4/18/07, 6:44 am
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