Sentences with phrase «trustee on a pro rata basis»
Dividend: The percentage of claims that will get paid to general unsecured creditors by a bankruptcy trustee on a pro rata basis.
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For instance, in Chapter 13 cases in the Columbus, Ohio, and Dayton, Ohio, the judges and trustees are allowing debtors to include special plan provisions that protect debtors from «charging collection fees, late fees, or any other penalties based solely on upon the reduced pro rata Chapter 13 Plan distributions being less than the minimum monthly payment it would otherwise be contractually entitled to during the life of the Chapter 13 Plan.»