MenuWhen an individual files chapter 13 bankruptcy, they have decided to voluntarily commit future income for paying certain debts. This type of bankruptcy uses a court approved plan to determine which creditors are paid what, and how much the debtor must pay to the
Dividend to Unsecured Creditors
In chapter 13 plan, the proposed payment to unsecured creditors is sometimes expressed as a percentage dividend, namely a percentage of the amount of the creditor's allowed unsecured claim. For a plan that pays nothing to unsecured creditors, the dividend is 0%, while a pay-in-full plan provides a 100% dividend.
Synonyms:
Unsecured Dividend
