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Submitted by on Tue, 02/08/2011 - 22:46
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I have filed Chapter bankruptcy in July 2010. I have been making payments as per the court monitored payment plan. Now what I want to know is that, is there any way by which I can know whether my creditors are actually getting paid? Thanks in advance.


Hi!
Welcome to the forums!
You have asked a valid question. I think is necessary to know whether or not the creditors are really getting money. Otherwise, there is no point in saving every penny to make the payments. For this purpose, a reputed company has introduced a free online tool for the consumers. You can check your bankruptcy progress by using this tool. All you need to do is, enter some key details of your bankruptcy case there and get the latest update.


Submitted by Good Nelly on Tue, 02/08/2011 - 22:57

Good Nelly

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Yes, you can keep track of what is happening to your Plan payments. Contact your Trustee. There are two web sites Trustees use for their "case status reports". You need to find out which one your Trustee uses and sign up so that you can view the report. In addition, once your Plan is Confirmed the Trustee will issue quarterly accountings showing the payments on the allowed claims. You will get a copy of the accounting.

Please note that but for "adequate protection payments " the Trustee will hold all funds until the Plan is Confirmed. Once Confirmed the Trustee will begin paying those funds to creditors.

[SIZE=2][/SIZE]Des.


Submitted by despritfreya on Wed, 02/09/2011 - 04:31

despritfreya

( Posts: 175 | Credits: )