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Questions about Chapter 13 Bankruptcy?

  
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Questions about Chapter 13 Bankruptcy?

Postby denzell » Thu May 17, 2012 8:17 am

I'm doing a research paper for one of my law classes that involves bankruptcy, specifically Chapter 13. Upon doing research, I have a few questions on some of the information:

1. Can non-priority (unsecured debts) be totally wiped out and eliminated, or must one pay them back somehow, whether based on a % of the debt? I can't find a definite answer. My guess is that non-priority debt CANNOT be eliminated 100%. It MUST be paid back somehow even only if partially. I know anything with a lien must be paid back, but I'm confused on non-priority.

2. What is the "priority" amount and how is it typically determined and calculated?

Thanks!! :)
denzell
 
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