Sentences with phrase «pay general unsecured creditors»
A «presumption of abuse» will arise if: (1) the debtor has at least $ 182.50 in current monthly income available after the allowed deductions (this equals $ 10,950 over five years) regardless of the amount of debt, or (2) the debtor has at least $ 109.59 of such income ($ 6,575 over five years) and this sum would be enough to pay general unsecured creditors more than 25 % over five years.
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Dividend: The percentage of claims that will get paid to general unsecured creditors by a bankruptcy trustee on a pro rata basis.
In general, the more property you can exempt, the less you will have to pay unsecured creditors in your bankruptcy.
If the total amount owed to your first mortgage is greater than fair market value of your property, you can eliminate the security interest to junior lienholders and treat them as general unsecured creditors in your bankruptcy plan (thereby possibly being able to pay them less than 100 %).