Chase didn't file on $40,000???

[cwillie]

Checked the 13 Data Network and Chase did not file on our $40,000 debt to them. Could it really be? The deadline was Christmas so.... Anyone else not have Chase file?

[AngelinaCatHub]

Checked the 13 Data Network and Chase did not file on our $40,000 debt to them. Could it really be? The deadline was Christmas so.... Anyone else not have Chase file?

Not Chase but I owed 33k to Citi and they filed no opposition. 'Hub

[cwillie]

OMG I'm so surprised. They sure hounded me when I missed a payment. Hopefully we'll have no objection here either.

[Duncan]

Sorry, but what does this all mean? Most of my debt is unsecured CC, so I'm trying to see how this would potentially impact my situation....

What effect does this have on your ch13? Does your disposable income payment simply get carved up amongst the creditors who did "file a claim"?

[Scott50]

the 13 datacenter takes 1-2 weeks to update sometimes. Its possible that they filed a claim and that the website hasn't been updated.

[HHM]

Sorry, but what does this all mean? Most of my debt is unsecured CC, so I'm trying to see how this would potentially impact my situation....

What effect does this have on your ch13? Does your disposable income payment simply get carved up amongst the creditors who did "file a claim"?

If a creditor fails to file a claim, there are 2 things that can happen

1. Nothing...if you are in less than a 100% payment plan, it simply means the creditors that did file a claim get a larger slice of pie
2. If you are in a 100% plan to start with, and a creditor fails to file a claim, then your plan length ends up being shorter.

The one thing that DOES NOT happen is a reduction in your monthly payment to the trustee

[justbroke]

HHM has summarized this well.

I want to add a question though. Are you saying that the creditor never filed a claim, or that the creditor never filed an objection to confirmation?

I have about $60K of debt in which the creditors never filed a claim. They are now past both the claims bar date and my confirmation (confirmed plan)!

I can't wait to use the word res judicata on them, if they dare file.

[athomas]

But what happens if none of your unsecureds file a claim and you are in a less than 100%payback? Does the plan base just get divided among them whether they filed a claim or not?

[justbroke]

But what happens if none of your unsecureds file a claim and you are in a less than 100%payback? Does the plan base just get divided among them whether they filed a claim or not?

It works exactly as HHM has written.

Your plan payment amount would stay the same (because by operation of the BK code, you must contribute your projected disposable income to the Plan).

If no one files a claim, then you wouldn't have to pay any unsecured creditors.

There's some interesting case law also on whether the "applicable commitment period" applies when you are paying the unsecured creditors nothing.

If you are so lucky that not one unsecured creditor files, then you'd have no payment outside the priority and secured creditors (IRS, home, auto, etc).

[cwillie]

The creditor (Chase) never filed an objection or claim and they are past the claims bar date. I see the previous post however that the 13 Network is late in posting items, so it could be they have filed. It won't affect us either way though, the other creditors will just get more money. It still amazes me though.

[Duncan]

Realizing that every case is different, how often do unsecured CC's fail to submit a claim? Are there certain ones (ie chase, citi, boa) that because of their size, # of bk's they are involved in, etc, that don't submit a claim more often than others?

[justbroke]

Realizing that every case is different, how often do unsecured CC's fail to submit a claim? Are there certain ones (ie chase, citi, boa) that because of their size, # of bk's they are involved in, etc, that don't submit a claim more often than others?

If I am an example... I have had 25% of my creditors not file. Strangely, though, some of them are actually big ticket ($10K credit line) cards. Strange indeed.

Only Chase filed directly. Bank of America and others sold the debt and the debt buyer filed. Many of those debt buyers had lousy documentation. I objected to 50% of my claims and sustained on 90% of those objections.

[HHM]

It's rare that NO creditor would file a claim in a chap 13, but as Justbroke points out, probably about half the time, about 1/4 of creditors may not file a claim.

[magyar123]

It's rare that NO creditor would file a claim in a chap 13, but as Justbroke points out, probably about half the time, about 1/4 of creditors may not file a claim.

Makes sense - but what happens to the /creditors/debts who did not file a claim? Are the debts discharged?

[HHM]

Yep, those debts are fully discharged. (assuming they are dischargeable debts in the first place)