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Not if the trust was properly drafted by a professional.

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โˆ™ 2009-11-17 16:36:24
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Q: Can a creditor claim assets held for a beneficiary in trust in case of bankruptcy of the beneficiary?
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Can a creditor put a hold on your savings account after you claim bankruptcy?

When you file for bankruptcy, all your assets are revealed to the trustee and basically frozen. No, a creditor probably won't put a hold on your savings account after you file but they can until your bankruptcy is discharged. Usually a letter from your attorney saying you have filed bankruptcy will stop this action.


A claim against a firm's assets by a creditor?

Networth


How is a claim filed as an unsecured creditor to the US bankruptcy court case 07-23686-RG?

"How is a claim filed as an unsecured creditor to the US bankruptcy court case 07-23686-RG?"


When a debtor enters bankruptcy a secured creator retains priority to the secured assets unless it files a proof of claim for the full amount owed?

Actually, a secured creditor only retains priority if they file a claim.


Creditor trying to collect from bankruptcy?

Files a "proof of claim" with the court.


If you are not listed as creditor on chapter 11 bankruptcy?

File a proof of claim


If a creditor is shown on Schedule F of a Ch 7 bankruptcy does the creditor need to file a proof of claim?

Yes


What happens when a creditor doesn't file a proof of claim in a bankruptcy case?

If it is not a secured debt it will be included in the bankruptcy discharge.


Can a creditor file an adversarial claim in bankruptcy court in a personal 7 bankruptcy for something that they contend occurred during a business bankruptcy 2 years previous. No claim was filed then.?

No, a creditor is required to file a claim if seeking payment, otherwise that claim is considered waived. So in this case. if there was no claim, then it was waived and the debt discharged. But even if it was filed, it would have been discharged in the business BK.


What is a proof of claim filed in an estate?

A proof of claim is filed by a creditor of the decedent. That claim must be paid before any assets are distributed to the heirs. A Proof of Claim is a form that a creditor submits to the court to get paid.


How does a creditor answer Chapter 7 bankruptcy?

By filing a proof of Claim, or by addressing questions/arguments to the court


How do you petition for 1031 exchange third party beneficiary funds from chapter 11 bankruptcy judge?

You are a creditor, like all others. The funds can't be disperssed without court approval. You will need to file a proof of claim and work through the process. Your funds are clearly at risk. This may be a particularly complex claim and you should get legal help that is intimately familar with corporate bankruptcy.


Does the creditor have to be in court in a bankruptcy?

No, Generally, they must file a "proof of claim", which can be done by mail...but that is about all.


What to do if Creditor harassment in bankruptcy?

1. You can file a contempt action in bankruptcy court and ask for attorney's fees and costs. 2. Depending on the kind of bankruptcy and the kind of harassment, you may be able to file a claim in bankruptcy or state court for violations of the debt collection practices act. You may have to send the creditor a certified-mail letter explaining what your complaint is and what you want the creditor to do about it. Check your state's statute and cases. 1. You can file a contempt action in bankruptcy court and ask for attorney's fees and costs. 2. Depending on the kind of bankruptcy and the kind of harassment, you may be able to file a claim in bankruptcy or state court for violations of the debt collection practices act. You may have to send the creditor a certified-mail letter explaining what your complaint is and what you want the creditor to do about it. Check your state's statute and cases.


Does an estate have to sell real property to meet a beneficiary's claim of assets?

If there are specific items given out, the executor must give it to those individuals. A beneficiary doesn't normally have a claim against the estate. All debts have to be resolved before distribution.


Can someone put an old debt back on your credit report after your bankruptcy has been filed?

The whole point of bankruptcy is that at the point of insolvency all assets transfer to the assignee, and all debts likewise. So debts are cancelled by the bankruptcy, the available assets being all there is to claim against.


What happens when you die and you have no heirs and you owe money?

Generally, your creditor(s) may petition the probate court to commence a probate proceeding for your estate if you have left any assets. Then, the creditor can file a claim against the estate. If you die with no assets in your name, your creditors are out of luck.


What is withdraw of objection to claim?

A Proof of Claim in bankruptcy is a court-filed document that registers a claim against the assets of an estate filing for bankruptcy. Any party in interest can object to a claim for reasons like lack of sufficient documentation or an incorrect claim amount. A withdrawal of this objection can be performed by said party to terminate the objection.


What is a claim against a firms assets by a creditor called?

liability Contemporary Business 2009 update pg 522


Can a creditor remove an amount owed them from under your chapter 13 bankruptcy and demand payment?

The creditor is bound by the terms of the Chapter 13 plan. If the creditor doesn't file a proof of claim, then they don't get anything. If they are demanding money, the creditor could be in violation of the automatic stay and you can bring a motion for sanctions.


Can a liens be filed against an estate?

Yes, but the creditor must be familiar with the rules. There is a specific time after an estate is filed during which a creditor can make a claim. You must file proof of your claim at the probate court where the estate was filed. If you follow the rules, your claim will be paid prior to any distribution of estate assets to the beneficiaries.


How To Find Out About Bankruptcy Claim Procedures?

When a debtor files for bankruptcy - and the debtor’s estate is deemed to have assets - a creditor has the option of either filing a claim or simply forgetting about the debt and writing off the outstanding amount. What a creditor will decide to do will depend mainly on how much money there is in the estate and how much of a payment he or she will get. Filing a claim in a bankruptcy - be it a Chapter 7 or a Chapter 13 case - can be a tricky process, and a creditor should thoroughly research the matter before completing any claim documentation. Creditors will usually receive notification of a bankruptcy from the Bankruptcy Court, and, immediately upon their receiving this notification, they should inspect their records to determine exactly how much the debtor owes them and also start collecting all relevant supporting documentation. They should also refresh themselves on the basic terms and conditions of their contract with the debtor that underlies their claim in order that they may determine whether their claim is secured, priority or unsecured. In complicated cases, it would, perhaps, be best if they consult with their attorneys regarding the aforementioned matters. A further possibility is that a debtor will file for bankruptcy and will not, for whatever reason, list one or more of his legitimate creditors on his bankruptcy schedules. In these cases, the forgotten creditors should consult with their attorneys as soon as they find out they’ve been left off the list so that they can request the debtor to amend his or her schedules and list the money owing to them. The Bankruptcy Court will also provide each creditor with a claim form, which has to be completed - correctly - and filed with the court by a certain date before any money can be paid out to them. Distributions are not, however, paid out as soon as a creditor has filed his or her claim, and, if there are indeed awards payable by an estate - this is not always the case - the payments will all be made simultaneously by the trustee just prior to the estate’s finalization.


What is a creditor holding a secured claim?

A secured creditor


Can you put a lien on a life insurance policy for your father if his beneficiary refuses to use the policy to cover his funeral expenses?

You have to file a creditor's claim against the estate of the father.


What are the creditor's rights in a chapter 11 bankruptcy?

There are literally volumnes on this. Basically, it is to file and prove your claim and be treated the same as any other creditor in your class/position. You can protest the handling if you feel there is some unfairness, or other grounds.

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