Just curious, Captial one question

[DUMBAGAIN]

Anyone owed Cap 1? I just was curious if they filed a claim for your case.

[Flamingo]

You can be sure if you owe them a large/high amount, they will file a claim. If you owe them a few hundred dollars, they may not. That's the way is usually goes for most creditors.

[AtWitsEnd]

They filed a claim for us. They will get pennies,and I mean pennies on the dollar in BK.

[Andyman]

You can be sure if you owe them a large/high amount, they will file a claim. If you owe them a few hundred dollars, they may not. That's the way is usually goes for most creditors.

Isn't the amount based on what you can pay? My attorney said that in lots of cases, in a CH 13, that unsecured creditors get nothing. I owe BofA about $9K and Chase about $8K and I hoping like heck I don't have to pay them. I can barely make my truck payment and if that's in the plan then my attorney said his fee of $3K would be in the plan.

[Flamingo]

Isn't the amount based on what you can pay? My attorney said that in lots of cases, in a CH 13, that unsecured creditors get nothing. I owe BofA about $9K and Chase about $8K and I hoping like heck I don't have to pay them. I can barely make my truck payment and if that's in the plan then my attorney said his fee of $3K would be in the plan.

Most creditors will file claims. The amount you will pay back to them is determined by your Chapter 13 Plan. All your debts, income, assets, etc. will need to be reviewed before that determination can be made. For instance, in our situation we ended up paying back our unsecured creditors 64%; it can range from any percentage up to 100%.

[krielly]

Yes, they filed a claim for us.

[ruggal]

Add me to the mix

Capital One filed on both of my cards through a collection/debt buyer.

[flower04]

When someone like Capital One files a claim, what happens?

[woeisme]

When someone like Capital One files a claim, what happens?

Same thing as any other creditor, they get payments over the life of the plan based on the proposed unsecured creditor plan. In mine I pay back 75% to unsecured (I know, a lot higher than most, but most of my debt was unsecured, my only secured was mortgage and being paid outside plan) and every couple months my trustee sends off payments to the different creditors.