considering Chapter 13
Our creditors are Amex, Chase, BOA, Capital One, and Citi.
No not really it means the ones that do reply get more money. Yo
No not really it means the ones that do reply get more money. Your payment or the time is not affect by them not replying.
However, if we are doing a complete repayment (100%) and half ou
However, if we are doing a complete repayment (100%) and half our creditors don't reply, we would owe less money. Correct? I know there are lots of people out there doing a 100% repayment plan on a 13.
They would all be entitled to payment. They don't even need to b
They would all be entitled to payment. They don't even need to be at the 341. It's whats listed on your bk schedules.
If the creditor does not submit paperwork for repayment, they ar
If the creditor does not submit paperwork for repayment, they are out of luck. That's how it works.
Quote:If the creditor does not submit paperwork for repayment, t
Quote:
If the creditor does not submit paperwork for repayment, they are out of luck. That's how it works. |
Yes, creditors that do not file claims by the claims bar date will not get paid anything through your bankruptcy plan. Nonetheless, their debt will still get discharged upon completion of your bankruptcy, and they cannot come after you for any balance.
That statement also assumes that the creditor was listed in your BK petition and received notice of the BK - in order for them to have an opportunity to file their claim.
After all the claims are filed, if the actual amount of claims is significantly lower than the estimated amount on your original plan, then your BK attorney can file a modified plan which possibly lowers your payments.
Thanks DebtCruncher. Not sure this is the plan for us as the mea
Thanks DebtCruncher. Not sure this is the plan for us as the means test has us repaying a huge amount each month-----and would be done in 45 months if all creditors filed claims. Going to try settlement first.