On bankruptcy schedule d creditors holding secured claims. What does it mean when value of property is 2500 amount of claim is 4000 unsecured portion is 1500 Does that mean you have to pay back 1500?
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 (creditor w…ithout 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.\n. \nThe 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.
What happens when a creditor does not file a proof of claim for a secured debt in a bankruptcy case?
Answer . \nA secured creditor does not need to file a such a claim, the lien against the property is sufficient proof. Generally the lien holder/lender will ask for the au…tomatic stay to be lifted so foreclosure or repossession action can continue or be implemented against the property. In a chapter 7 bankruptcy the borrower must be able to reaffirm the secured debt to avoid recovery or litigation action from the lender.
When a proof of claim form is a credit of money on an account is it a secured claim a unsecured priority claim or a unsecured non priority claim in a bankruptcy?
Answer . \nPresumably your talking about a credit in a general trade or deposit type account, (not a payroll matter, rent deposit or something on the priority list), it is… simply an unsecured non-priority claim.
Answer . A secured creditor
If the amount of claim on Schedule F of bankruptcy shows no dollar amount does this mean that the debt is not included in the bankruptcy?
If its a Chapter 7 case, the debt most likely will be discharged. If its a Chapter 13, the amount is used for plan calculation. In either case, the debt is "included". I…f the creditor is not paid under the Ch 13 plan, there may be a problem there. (Depending on if the creditor cares) Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
"How is a claim filed as an unsecured creditor to the US bankruptcy court case 07-23686-RG?"
When you file for bankruptcy, all your assets are revealed to thetrustee and basically frozen. No, a creditor probably won't put ahold on your savings account after you file b…ut they can until yourbankruptcy is discharged. Usually a letter from your attorneysaying you have filed bankruptcy will stop this action.
Creditors holding secured claims cannot be dismissed in abankruptcy. These claims will have to be reaffirmed or they cantake back the property.
If a creditor is shown on Schedule F of a Ch 7 bankruptcy does the creditor need to file a proof of claim?
What goes on schedule f creditors holding unsecured non priority claims in a chapter 7 bankruptcy in New Jersey?
Your State makes no difference...your filing FEDERAL court action and forms.. The answer to your question depends on every individual and his debts and types of debts.. If y…ou don't understand the question - which is rather self explanatory and simple compared to many of the prciedures you must do accurately to have a successful filing...and you think you can possibly handle all the many, many things that will happen in a BK case and get the best result...and NOT commit a legal crime by submitting forms under oath to a court that are wrong....well, al the more reason you really, really better get a lawyer.
\nIf you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
\nSecured debts take priority over unsecured debts in a bankruptcy proceeding.
In general, YES. Key to your question is your usual income and equity in assets, compared to the debt. An excellent primer about either chapter 7 or 13 bankruptcy is "The New …Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 byNolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
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.
Perhaps. It will depend entirely on the debts you owe. Creditors other than those who hold liens against the property cannot seize a primary residence and request a forced sa…le when it is protected by the homestead exemption. The above does not apply to first mortage lien holders, but it does apply to other creditors who may have a lien against the property as well as those who have not filed judgment liens. If the equity in the property exceeds the exemption amount it is possible for a judgment creditor to file a judgment writ as a forced sale to recover the debt owed. It is rare that a judgment creditor will take such action as it is time consuming and costly for all parties. In addition, there are a sine U.S. states that do not allow the forced sale of a primary residence by a judgment creditor(s), either by direct statute or laws based upon how the property is titled.