A 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 automatic 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.
If it is not a secured debt it will be included in the bankruptcy discharge.
A secured creditor
This is not a question. If your question is, "What happens when the trustee moves the Court to declare a secured claim withdrawn," then one should object, particularly if the secured creditor still has a claim. If this is chapter 7, a secured creditor has no claim except on its collateral. In chapter 13, fight for your claim.
Actually, a secured creditor only retains priority if they file a claim.
When there are two secured parties claiming security interest in the same collateral, the creditor that is perfected (having filed a financing statement) will have priority over the interests of an unsecured creditor or unperfected secured party
Maybe, it depends on whether or not the debt is secured and the secured amount. If you own it free and clear, and is very valuable, it will be seized and sold by the trustee. If there is a secured creditor, but the claim is small and the car value is great, it can still be seized, with the secured creditor paid off, you receiving the exempt amount, and the remainder to pay off creditors.
File a proof of claim
Files a "proof of claim" with the court.
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
"How is a claim filed as an unsecured creditor to the US bankruptcy court case 07-23686-RG?"
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.
By filing a proof of Claim, or by addressing questions/arguments to the court
No, Generally, they must file a "proof of claim", which can be done by mail...but that is about all.
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.
Not if the trust was properly drafted by a professional.
You must have the lien avoided in the bankruptcy court. This has to happen before the bankruptcy case is closed or you have to petition to have the case re-opened. LIENS SURVIVE BANKRUPTCY UNLESS YOU SPECIFICALLY MOVE TO HAVE THEM AVOIDED. Let me add to the last post. Most of the time, the creditor who has the lien is listed as unsecured, even though they are technically secured. You need to review your bankruptcy to see how the claim was handled. If it was paid as secured (100%) or 100% to unsecured, then contact the creditor. If the debt was paid as unsecured (less then 100%), then you must have the lien avoided. Most chapter 13's are less than 100% to unsecured.
you go broke and lose everything
The percentage paid to unsecured creditors in a Ch 13 is determined by your disposable income. Secured creditors get paid at 100%, house and car payments remain the same. What's left over gets paid out to those unsecured creditors who file proofs of claim. If a creditor does not file a claim, then that creditor does not get paid.
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.
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.
It depends on the judgment. If it is a Motor Vehicle Judgment it is not a secured claim which makes sense since they went after your license and not your assets. Sometimes these Motor Vehicle Judgments show up on your credit report and the only way to get it off is to settle the judgment or file bankruptcy. If it is not a Motor Vehicle Judgment it is most likely a secured claim.
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.
It should, since specific property is contemplated as security for the loan. The burden might be on the creditor to prove in court that such a loan existed to establish his claim. Written loan agreements setting forth the security interest of the creditor in the stock should be sufficient, if signed by the debtor.
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.