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Are "Pro Tanto" Ch13 Plans Acceptable Locally?
I was reviewing some ch13 plans, and I noticed some attorneys put "pro
tanto" instead of listing an actual percentage payout to general unsecured
creditors. Is that generally acceptable among the local trustees in trying
to get local plans confirmed? I've never really had an issue confirming
plans in the past based on the originally proposed plan payment where a
percentage payout was listed. But I've encountered some resistance recently
where the few POCs that were filed came in moderately higher than what was
listed on Schedule F, even though it was yet to be determined that the
aggregate filed POC's would end up being greater than the listed Schedule F
debt at the time of confirmation.
Jeffrey Hsu, Esq. | JCH Law Firm
1031 S. Garfield Ave. | Alhambra, CA 91801
Phone & Fax: 626-999-5959
jhsu@jchfirm.com |
www.jchfirm.com
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