On Schedule F of a Chapter 7 bankruptcy what does it mean when it asks if the claim is contingent unliquidated or disputed?
A contingent claim is based on a possible future event. For
example, the liability of a cosigner on a promissory not might be
contingent upon the a default by the main debtor. An unliquidated
claim is one that has not been calculated or established as a
specific amount. If you caused a car accident, pain and suffered is
determined by a jury and thus unliqidated. A disputed debt is
exactly that: a debt you dispute. You may dispute it for a number
reaons and these descriptions are not mutually exclusive.