Old Creditors

[ilikchikin]

My husband filed for Ch 13 BK in July, confirmation is on the 26th of this month.

We did everything ourselves but I had a few questions:

Three claims have been put in by Asset Acceptance. These amounts were not included in the Plan because the debts are from 1998 and aren't even on his credit report.

My questions are: Can we object to these claims based on SOL? If we just let these claims ride the gravy train; if for some reason my husband gets dismissed from ch 13, will receiving payments from the Trustee admit the debt and 'restart the clock?'

Thank for any help.

[ilikchikin]

My husband just got home and told me he is confirmed. He didn't have to go to court, the Trustee's assisant called him and said they had no objections to the plan.

[MSbklawyer]

if for some reason my husband gets dismissed from ch 13, will receiving payments from the Trustee admit the debt and 'restart the clock?'

Thank for any help.

That's quite possible. The statute of limitations is an affirmative defense and therefore can be waived. I'd object to those claims based on the SOL.

[kornellred]

Why did you not list those "old" creditors in the petition? Debts do not disappear just because they are old, and have not been mentioned.

[forgotten]

Why did you not list those "old" creditors in the petition? Debts do not disappear just because they are old, and have not been mentioned.

Because you tend to forget about debts you hadn't heard about in 12years?

I had asset file on a 13 year old debt also. It looks like they buy really outdated uncollectable debts and hope the person files a 13 some day. They must pick those things up for 1/10000 cent on the dollar.

[JEM]

Because you tend to forget about debts you hadn't heard about in 12years?

I had asset file on a 13 year old debt also. It looks like they buy really outdated uncollectable debts and hope the person files a 13 some day. They must pick those things up for 1/10000 cent on the dollar.

Asset sent me something a few years back from something supposedly almost 15 yrs old. I'm not even sure it was "mine". Common name and I did not recognize the OC or the amount. I DV'd them, and they just kept sending letters claiming they'd investigate.

I can see them buying up a bunch of old debt throwing the poo against the wall and hoping something sticks. In other words making a claim in a 13 hoping to get paid SOMETHING.