This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
Massachusetts Creditors Holding Secured Claims — Schedule — - Form 6D - Post 2005 is a legal document used in bankruptcy cases to disclose the creditors that hold secured claims on the debtor's property or assets. The form is specific to Massachusetts and is applicable for cases filed after 2005. This form plays a crucial role in bankruptcy proceedings as it helps the court and the debtor to understand the extent of secured debts and enables them to create an effective repayment plan. Creditors holding secured claims have a legal right to claim specific assets or properties if the debtor defaults on their payments. In Massachusetts, there are several types of creditors holding secured claims that can be included in Schedule D — Form 6D. Some examples of these creditors include: 1. Mortgage Lenders: Mortgage lenders are creditors who hold a secured claim on real property, such as a house or a commercial building. The debtor's outstanding mortgage debt is disclosed in this form. 2. Auto Loan Lenders: Auto loan lenders are creditors who hold a secured claim on a debtor's vehicle. The debtor must disclose the outstanding balance owed on the auto loan. 3. Equipment Financing Companies: Businesses that have obtained financing for equipment, machinery, or other assets may have creditors holding secured claims. These creditors may have the right to repossess the equipment in case of default. 4. Secured Credit Card Issuers: Some creditors issue secured credit cards, where the credit line is secured by a deposit made by the debtor. The amount secured is listed on Schedule D. 5. Home Equity Loan Lenders: Homeowners who have taken out a home equity loan or line of credit have creditors holding secured claims on their property. The outstanding balance is disclosed in the form. It is important to accurately list all secured creditors and the corresponding amounts owed in Schedule D — Form 6D. Failure to disclose these creditors may lead to legal consequences and can affect the outcome of the bankruptcy proceedings.
