Question about claim amounts

[getmeoutofhere]

We are diligently working through the paperwork for our 13. I have a question about creditor claims. Due to the dollar amount restriction on the unsecured portion of chapter 13s, I am trying to get the amounts down and had a questions:

When you file, what amount is claimed? For example, I have a $30K American Express debt. This debt was sold to a debt collector and "charged off" by Amex. So, when we file, what is the amount of the claim? Is it the original amount of $30k and amex is the creditor? Or....is it a "new" amount and the CA is the creditor? This could have an impack on my filing as I am up against the ceiling of the allowable amounts for unsecured debt.

That said, would it make sense to wait until these are charged off by the OC's and picked up by CA's at a lower price? Thoughts?

[StartingOver08]

Usually when the CA's pick up the debt the amount INCREASES because they are tacking on fees, default interest etc.

List all of the original creditors and list the CA's - you can always put in an amount 'unknown' if the CA has, for whatever reason, not given you an amount to pay!

My attorney put the original creditor in with the amount owed as of the filing and then also listed the CA that was collecting for the OC, referenced the original debt but did not duplicate the amount in the schedules

[justbroke]

When you file, what amount is claimed? For example, I have a $30K American Express debt. This debt was sold to a debt collector and "charged off" by Amex. So, when we file, what is the amount of the claim? Is it the original amount of $30k and amex is the creditor? Or....is it a "new" amount and the CA is the creditor? This could have an impack on my filing as I am up against the ceiling of the allowable amounts for unsecured debt.

Unless the account was sold, and you know it was sold and to whom (which you'd probably never figure out anyhow)... I would put the original creditor along with the amount shown on your credit report (or last known bill). I would list the CA also, but check the column "disputed" and put the amount as $1.00.

That said, would it make sense to wait until these are charged off by the OC's and picked up by CA's at a lower price? Thoughts?

Don't worry, only 2 of my 37 claims came in at the same value. As a matter of fact, some of them came in lower that what was on the credit report. I didn't dispute them.

As far as "lower price" with the CA... don't try this. The CA is entitled, by law, to collect the tnrie amount. There is some good caselaw and recent opinions on this. Somewhere in Florida, a debtor found out how much the CA/Junk Debt Buyer (JDB) paid for the claim.

The Debtor, through his attorney, attempted to pay the claim only to the amount the JDB paid for it. The judge basically said flat out no way. That the JDB took a risk to purchase it without, perhaps, getting paid at all... and that the Debtor owed the entire amount.