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

[Flamingo]

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.

It's the holidays and vacations - give it several days to see if anything posts.

[larryg]

I have non exempt assest worth about 38K so the attn told me I would have to payback 38K. So what happens if only 30K creditors file then will I only payback the 30K or will I still payback 38K and the trustee keeps the difference.

[larryg]

My last question was probably stupid. The more I think about it I'm sure as soon as the creditors find out that this is an asset case they would all file as quickly as possible so they can get a piece of the pie.

[justbroke]

I have non exempt assest worth about 38K so the attn told me I would have to payback 38K. So what happens if only 30K creditors file then will I only payback the 30K or will I still payback 38K and the trustee keeps the difference.

You would payback 100%. So, if only 30K file, then you pay 100% of $30K, only you'll do it faster.

Your question is not stupid. It shows that you are really thinking this through! Let's just hope they don't all file.

Some of the creditors are stupid and slow. I called one (several months ago) to tell them I filed and asked when they were going to file a claim. They said that they were 3 months behind opening the mail. They never filed. Too bad for them.

[bam531]

we also owe Citi and they have our truck title and they didnt file either. What happens to our truck title? Can we get that back or do we have to wait till discharge?

[HHM]

we also owe Citi and they have our truck title and they didnt file either. What happens to our truck title? Can we get that back or do we have to wait till discharge?

When it comes to secured debt, you get the title back when you pay off the note.

[treehugger1]

In these times, think of it this way. As far as I know, there is no automatic electronic form that flows through from your filing matrix to the creditor/CA to the outbox called "file a claim." Somewhere along the line, a "real" person probably has to note the filing and physically track, document, and record any claim. Given these lean times, I would believe that the big financial CC institutions do not have enough staff to keep up with the defaulted debt information/BK requests. They could be weeks or months behind.

As an example, I have several DV requests out to CA's and collection attorney firms for CAP1. One of these requests for verification is 6 months old. I recently received a letter from the law firm saying they were working to satisfy my DV request, but in the current setting this is taking some time. In other words, it's not the CA's and JDB's who might be the holdup when information is requested by debtor or BK filer. I think the holdup is that the original creditors do not have enough staff to keep up with the demand for information.

It will be quite interesting to see how the timely process of filing for claims plays out in the next few months when we will begin to see a rapid increase in CC default and BK filings.

Just my best guesses.

[justbroke]

In these times, think of it this way. As far as I know, there is no automatic electronic form that flows through from your filing matrix to the creditor/CA to the outbox called "file a claim."

Actually there is.

Read this article here (http://www.doanlaw.com/blog/?p=18). it will keep you up at night.

For instance, “Bankruptcy Claim-Pro” claims to produce “1000 proof of claims in minutes” with a simple interface between National ECF data and debtor accounts such as “EDI (Electronic Data Interchange), AS400, Oracle/Sybase/SQL Server/MySql/ODBC Database, DBase2 and DBase3, Mainframe, ASCII, Tab Delimited, Comma Delimited, Excel, XML, any computer readable format.”
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Many of these claims do not even contain a human signature. It is very questionable whether any human even sees these claims since they are entirely automated. Of course, such a practice is completely illegal for failing to comply with Bankruptcy Rule 9011.

[woeisme]

I had one file a claim for $13, and another not file for over $5000, there's no rhyme or reason as far as I can tell. What annoys the heck out of me are creditors who don't file claims, then keep sending me debt settlement offers! I keep sending them copies of the BK filing and photocopy the creditor matrix so they can see they were clearly notified, send these letters return reciept for proof they got them, and two months later, they send me another letter asking for $, or sell off the debt to someone else who then starts asking for the $ again, it's so frustrating when they could have been getting paid back in my CH 13 for more than the % they are asking to settle for if they just did their darned paperwork! But I fear these zombie debts will follow me forever, now I wish I'd filed the proof of claims for them...

[justbroke]

I had one file a claim for $13, and another not file for over $5000, there's no rhyme or reason as far as I can tell. What annoys the heck out of me are creditors who don't file claims, then keep sending me debt settlement offers! I keep sending them copies of the BK filing and photocopy the creditor matrix so they can see they were clearly notified, send these letters return reciept for proof they got them, and two months later, they send me another letter asking for $, or sell off the debt to someone else who then starts asking for the $ again, it's so frustrating when they could have been getting paid back in my CH 13 for more than the % they are asking to settle for if they just did their darned paperwork! But I fear these zombie debts will follow me forever, now I wish I'd filed the proof of claims for them...

You should be sending those to your lawyer. If you filed pro se, then you need to file an Application for Motion to Show Cause and for Sanctions!!!

They will keep doing this so long as debtors don't take legal action and they get sanctioned.

[fslady]

It is interesting though that these creditors would hound you to the grave and back through phone calls, letters, etc. but then don't file for payback through bankruptcy. My biggest CC - Citibank- didn't file on $18,000+.
Which just meant more for the other creditors Thank you very much.

[woeisme]

You should be sending those to your lawyer. If you filed pro se, then you need to file an Application for Motion to Show Cause and for Sanctions!!!

They will keep doing this so long as debtors don't take legal action and they get sanctioned.

I would but she said to send them registered letter 1st, that there's nothing she can do initially. Then they sell the debt to another company, who can also say they didn't know about the BK, so need to send them a letter too.. and when I send them a letter, they sell again, and so on and so on. It's a lot harder to get a sanction against a creditor for violating the stay than you'd think, you have to prove they did it on purpose, they can claim it as a "mistake", so my lawyer isn't willing to deal with it. I've stopped spending the postage on the registered mail, legally they can't recover it so I've decided to just let them waste their money on postage. But do worry about them trying to do more in the future.

[justbroke]

I actually know that it's difficult to get Sanctions, but if we keep letting them do it... they'll continue to do it. I think most lawyers are lazy or just plain lax in this area.

I understand junk debt buying (and selling). However, the fact is, that these debts don't get sold and re-sold every month.

If no one ever takes the time to challenge these creditors/JDBs, then we'll all continue to be harassed by them. Them merely claiming that "we didn't know" is actually not an excuse when it comes to the automatic stay and discharge injunction.

Many courts have found that a mistake is not an excuse and is still willful. This is because these creditors are sophisticated enough to have CHECKED first. It's a game to them. And, they'll keep playing it so long as everyone is passive.

Sorry, this is a sore topic for me.

[broncho14]

I had a creditor not file a claim on $18000. In all about a third of my creditors did not file but I did have one file a claim on $47 on one card but they let over $2000 go on another card which was also theirs. I have no idea why that happened that way.