What would you like to do?
It depends what type of bankruptcy it is. In a Chapter 7, the debt will disappear, but the security interest will not. Therefore if you surrendered the car to the bank and they sold it for $2,500, leaving $1,500 still owed on the note, then you would not be liable for that amount. If you wish to keep the collateral, you will have to pay off the full value of the note ($4,000.00). This property, which is probably a car, is what you would call 'underwater', since it's worth less then you owe against it. In a Chapter 13 you have to pay secured claims through a plan, but you may be able to 'cram down' the amount that you pay to the value of the car, instead of the full amount that is owed.
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On a bankruptcy filing form what does it mean when it asks schedule F creditors holding unsecured nonpriority claims and asks for the date claim was incurred and consideration for claim?
Answer Creditors are either secured or unsecured. Secured creditors such as the mortgage on your house or you car loan go on Schedule D. Unsecured creditors (cr…editor without liens or collateral) are either priority or nonpriority. The only creditors who are classified as priority go on Schedule E and Schedule E contains a list of the categories. Every other creditor (general unsecured creditors) goes on schedule F. The most common example of unsecured nonpriority creditors are credit cards and medical bills. You basically need to give a general description of what you bought and when you bought it. You don't need exact dates.
Unpaid employees are priority unsecured bankruptcy claims up to approximately 10,000.
Answer A secured creditor
They would have to be. You do not go Bankrupt on certain things though. In BK you do not pick and chose what is included. All are given priorites and some are… exempt fom being used and some exempt from being discharged. Secured debts get first call from the money from the sale of the asset securing them. (Some property taxes may well be secured debts). ALL your assets and all your debts are included. Your assets are used to pay your debts, the extra that can't be paid may be discharged. Taxes get a fairly high priority and will be paid in full before most other unsecured debts.
Yes any amount above what was owed, including all fee's, accrued interest, penalties and such is returned. However if your in BK, it becomes part of the assets available… to pay other creditors than the mortgage co. Obviously, you would have goten substantially more had you sold the property yourself...trustee auctions not only having all the fee's, but because of the circumstances attracting only buyers expecting problems with the property, getting possession, etc...and ready to buy when the gavel goes down without contingencies, mortgage safeguards, frequrntly never even seeing the inside..get much less than a free market sale - attracting all buyers and having marketing.
Creditors holding secured claims cannot be dismissed in a bankruptcy. These claims will have to be reaffirmed or they can take back the property.
It is an insurance claim used to report professional and technical services.
Its "unsecured"...and it is probably better to say what it isn't than what it is-- A secured claim is a debt that has a direct claim on the rights to something. Like a ca…r loan will have a lien on the title, showing that specific item is pledged to that lender, a house mortgage the same thing.....anyone getting a lien on some asset of yours has a secured position in it, and has the first right to any and all money from its sale to satisfy the debt. Unsecured ones are therfore those that have a general claim against any and all your assets...they have to wait until the secured assets are sold and the secured creditors get their money, and then have a right to anyhing else/left.
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
Secured debts take priority over unsecured debts in a bankruptcy proceeding.
You file something called a "proof of claim", within the time period specified, with the court. The bankrupt, the administrator or just about anyone involved should… be able to make sure you get one....and if your on the BK records as a possible creditor, you should be getting one automatically. It makes no difference whether your debt will qualify as a preferred claim, secured, unsecured, administrative, etc. for how you make a claim, although it will be asked on the claim form.
It is the form that is required for use when billing an insurance company for health care services given. It is used by all types of health care providers who are billing insu…rance.
Pedro Alvares Cabral follwing order from King Dom John VI Pedro Álvares Cabral
Good question. It is important to know what you have to continue doing and what you are discharged of in bankruptcy and also to familiarize yourself with the different types o…f bankruptcy and their differences Generally speaking, if you are filing for chapter 7 bankruptcy then the majority of your debt will be discharged and you would not have to pay back your creditors. If you are filing for chapter 13 bankruptcy then you likely would but under your repayment plan you would probably be paying less that you originally are.
On bankruptcy schedule d what does it mean when the value of the property is 5000 but the claim is 1000 what is the secured portion?
If the property is worth $5,000 and there is a claim on it for $1,000, there is equity of $4,000, which will have to be paid to the trustee or exempted (in a Chapter 7). The $…1,000 claim will be the secured claim, assuming it is in fact secured by a mortgage, purchase-money loan agreement, judgment levy or other security.
Creditors holding unsecured priority claims
it is the form used at the doctor's office for bililng purposes.