Confirmation Hearing Date vs Proof of Claims Deadline (Huh?)

[simon2020]

Can someone explain to me in laymans terms why would the "Proof of Claims" date have a date set almost 10 weeks AFTER my Confirmation Hearing?

I thought one my plan is confirmed, that all creditors had the to file proof of claim right after I filed?

So, correct me if I am wrong. If my plan is confirmed on 5/25/09 but Proof of Claims deadline is 8/25/09, does that mean I am not 100 percent confirmed until all creditors had 90 days to file their proof?? Seems so backwards which does not make sense.

[EricaCallaha]

It is backwards and does not make sense, but look whose writing the laws. The creditors have 90 days from the 341 meeting to submit a claim. Meaning that if they want to get some money they better file a claim or blow away.

Your confirmation really isn't part of their "proof of claim". Your confirmation is simply that. The judge has confirmed your plan and you are set. This is where people get lost in percentages.

For instance:

As of today we only have 17 claims that have been filed. With our plan payments, we would be at around a 90% payback. But as claims trickle in, that percentage goes down. So if the other 25 file a claim and can prove their amount to the court, we will be at like a 25% payback.

That's why you don't get caught up in percentages or making sure that your creditors file claims. If they have been notified (which your attorney and the court does) it is their responsibility to file a claim to get paid.

Hope this helps. Any closer to filing?