Do I have to pay a minimum portion of the debt I owe?
No. In a bankruptcy, you only have to turn over your surplus income as set out in the income standard. Proposals are simply an alternative to paying your creditors under the terms you initially negotiated with them. A proposal could provide for the full payment of your debts over a three to five year period, or a proposal could provide for the payment of a specified amount of money such as $100 per month. The amount is accumulated by the Trustee and distributed to your creditors usually every six months.
