Why would a creditor not file a proof of claim in Chapter 13?

A creditor might not file a proof of claim in your bankruptcy if: you have a no-asset Chapter 7 bankruptcy (meaning you don't have any property the bankruptcy trustee can distribute to your creditors, so they won't get paid) you owe the creditor a very small sum, or.

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List of creditors holding 20 largest secured claims - Not needed for...

Queens New York List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005

Name: Queens New York List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005
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Category:

Bankruptcy - Creditors

State:

Multi-State

County:

Queens

Control #:

US-BKR-F4

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This form is a list of creditors holding the 20 largest unsecured claims. The form lists the name of the creditor, the nature of the claim, and the amount of the claim. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.

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How to fill out Queens New York List Of Creditors Holding 20 Largest Secured Claims - Not Needed For Chapter 7 Or 13 - Form 4 - Post 2005?

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If a secured creditor fails to file proof of claim, then you will not make any payments toward what you owe on your house or car during your repayment plan. At the end of the bankruptcy process, to keep the collateral, you will still owe the full amount of these secured debts. Plus, you may owe interest and other fees.

The trustee must pay off the secured debtin fullbefore using the proceeds for other bills. If more than one lien exists on the same asset, the first in time rule applies. Each secured creditor will get paid in the order that the lien attached until all get paid, or the money runs out.

A secured creditor, unsecured creditor or equity security holder must file a proof of claim or interest for the claim or interest to be allowed, except as provided in Rules 1019(3), 3003, 3004, and 3005.

A proof of claim is a form used by the creditor to indicate the amount of the debt owed by the debtor on the date of the bankruptcy filing. The creditor must file the form with the clerk of the same bankruptcy court in which the bankruptcy case was filed.

In Chapter 13 bankruptcy, you must devote all of your "disposable income" to repayment of your debts over the life of your Chapter 13 plan. Your disposable income first goes to your secured and priority creditors. Your unsecured creditors share any remaining amount.

You can't discharge priority claims in Chapter 7 or 13, and you must pay them in full through the Chapter 13 plan. Unsecured priority debts include recent income tax debts, past due child support, past due spousal support and other past due domestic support obligations. Also included are administrative expenses.

The majority of debts discharged in Chapter 13 bankruptcy are nonpriority unsecured debts. Credit card balances, personal loans, medical bills, and utility payments fit here.

A creditor might not file a proof of claim in your bankruptcy if: you have a no-asset Chapter 7 bankruptcy (meaning you don't have any property the bankruptcy trustee can distribute to your creditors, so they won't get paid) you owe the creditor a very small sum, or.

Generally speaking, in a Chapter 7 proceeding, the following types of debts are not discharged: Debts that were not listed at the start of the case (or debts for unlisted creditors).Most student loans (unless repayment would cause the debtor and their dependents undue hardship) Recent federal, state, and local taxes.

As a result, most Chapter 13 plans do not have to provide for the repayment of unsecured debts. The only instance when Chapter 13 plans must provide for payment of unsecured debts is when an unsecured creditor objects to the plan. If this happens, the debtor must pass a disposable income test.

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Queens New York List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005

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How to fill out Queens New York List Of Creditors Holding 20 Largest Secured Claims - Not Needed For Chapter 7 Or 13 - Form 4 - Post 2005?

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FAQ

What happens if a creditor is not listed in Chapter 13?

Do secured creditors get paid in full?

Which of the following creditors must file proofs of claims?

What is a proof of claims?

Which category of creditors must be paid all that is owed them in a Chapter 13?

What debts must be paid in Chapter 13?

What debt is forgiven in Chapter 13?

Why would a creditor not file a proof of claim in Chapter 13?

What debts Cannot be included in Chapter 7?

Do you have to pay back unsecured debt in Chapter 13?

Interesting Questions

What is a secured creditor?

What is the Queens List of creditors holding 20 largest secured claims?

What does it mean when a creditor's claim is secured?

Why is the Queens List of creditors important?

Are Chapter 7 and Chapter 13 bankruptcy cases involved with the Queens List?

How can I access the Queens List of creditors holding 20 largest secured claims?

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