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Agreeably I'm not familar with the specific cite your referencing, but consideration in virtually all legal and financial things means what was given of value...money, promise to pay, trade of some asset, etc., even the term "love and other valuable considerations" to address it are commonly used. Other things can be. If you got something say someones old car, for $100 and promising to paint their house...that is all the consideration you exchanged for the car.

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Q: What does consideration mean on Schedule F?
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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?

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 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.


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