Ch 11: how much disposable income do I need to pay unsecured creditors?

[DecentHuman]

Does anyone know in a ch 11 plan how much disposable income needs to be available to pay the unsecured creditors? Is it a percentage of the amount of unsecured debt I have? Or are there no rules and it just depends if the unsecured creditors vote for the plan?

[HHM]

It's the same basic test as in a chapter 13, unsecured creditors must get at least as much as they would IF you filed a chapter 7. Also, in general, you must devote your disposable income to the plan.

[DecentHuman]

Disposable income for ch 11

It's the same basic test in a chapter 13, unsecured creditors must get at least as much as they would IF you filed a chapter 7. Also, in general, you must devote your disposable income to the plan.

If I file ch 7 they won't get anything - I don't have anything and my properties don't have equity. In the plan I just sketched out, I will only have $250/month disposable income - not very attractive when split amongst the unsecured creditors.

[HHM]

Why are you trying to do chapter 11 in the first place?

[DecentHuman]

Why I'm trying to do ch 11

Why are you trying to do chapter 11 in the first place?

Because by cramming down and adjusting the interest rate I can make 60% of my remaining properties work, thereby keeping my business, income, properties, and remaining self-employed. Eventually, when I'm old enough to retire, they'll be paid off and my income will be the full rents, plus I'll own them outright and be able to sell them as needed and desired.

If I do ch 13, I won't be able to pay them off in 5 yrs, if I do ch 7, I can only keep the few properties that already work the way they are (can't modify the mortgages) and have no equity a trustee would be interested in. So it seems like 11 is the best approach.