Debt and Bankruptcy
Bankruptcy Law

On Schedule F of a Chapter 7 bankruptcy what does it mean when it asks if the claim is contingent unliquidated or disputed?

User Avatar
Wiki User
2006-07-16 13:06:21

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.

Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.