Confirmation Hearing in 2 days and...

[Amadan]

There hasnt been a peep on PACER since May23rd! Seriously. I hope i dont jinx myself but I cant find where even one unsecured creditor has filed a claim. I may just be looking in the wrong place, but I see claims for all secure debts have been made by those lenders.

So, just to humor me, any idea what happens in a 13 when no claims are filed? I mean, I will be paying secured claims for the first 36months anyway. But if nobody else steps up, do we still keep paying for another 24months? Do we get an early dismissal? Yeah, yeah, I know I am dreaming here. I am sure my reality check will bounce after everybody lines up at the courthouse tomorrow.

[Lissy]

If none of your unsecured creditors file claims and you pay off everything else, you would be done sooner than 5 years. You don't have to pay more than you owe (to those that filed claims). However, be aware that once you are confirmed, all of your creditors will be notified. That could remind them that they need to file a claim and their time is getting short to do so. I wouldn't count on them NOT filing claims. I was hoping the same thing. Up to my confirmation hearing, only a handful of my smaller creditors had filed claims. I was hoping the big ones would miss the deadline. Within days of being confirmed, every last one filed a claim. *sigh* I knew I wouldn't get that lucky, but it was still disappointing. LOL

[Amadan]

Well, i just found about about something called a "Claims Bar Date"

In keeping with the learning something new every day with this BK stuff, its not the actual confirmation hearing that is the date that creditors have to file claims by. Theres yet ANOTHER all imprtant date. The Claims Bar Date is the last day they can add themselves to the claims register, and mine is not until 8/5/10. So while it is a big deal for the confirmation hearing to go off without a hitch tomorrow, theres still plenty of time for the vultures to move in.

What my lawyer told me is that it seems these days that the unsecureds wait until you are confirmed, then sell off the bad debt to companies that pay pennies on the dollar for the deferred payments from BK. So the likelyhood is very low of anything changing for us in the long run. On the plus side he has been given no indication by the trustee or judge of any issues with us getting our confirmation order signed tomorrow.

Wish us luck!

[marie]

good luck !

[Amadan]

Confirmation Hearing completed!

The judge signed off and we are confirmed.

Now we just wait out the Claims Bar Date and start counting down the months. 3 down, 57 to go...