CC didn't file claim

[grnclvrs]

My plan has me pay all the credit cards at 100% and surrender the house to the first and second mortgage holders. As of the original confirmation hearing date, none of the credit card companies filed a claim. The judge continued the case to give them more time to file. What happens if they still don't file by the next date or if they never file?

[nikobar]

they get nothing if they don't file until the deadline

[Flying2BK]

When you surrender your house....are they going to sell it at a Court House Steps type of venue and then come after you for the difference?

Will you still be at 100% payback at that time?

[grnclvrs]

When you surrender your house....are they going to sell it at a Court House Steps type of venue and then come after you for the difference?

Will you still be at 100% payback at that time?

The plan is secured property goes to secured debt and unsecured debt paid back at 100%. Don't confuse bankruptcy with foreclosure.

[Nicollette]

they get nothing if they don't file until the deadline

Thats true. I cant remember exactly, but I think creditors have 90 days from the confirmation date to file a claim.

[forgotten]

The plan is secured property goes to secured debt and unsecured debt paid back at 100%. Don't confuse bankruptcy with foreclosure.

If you owe more than the house is worth they still get an unsecured claim for the difference between what it is worth and what you owe.

But yes, claims that are not in by the claim bar date get nothing.

[fslady]

My biggest cc didn't even file a claim for around $18,500. It was hard to believe. But I'm not complaining.

[enginegirl]

Thats true. I cant remember exactly, but I think creditors have 90 days from the confirmation date to file a claim.

they get 90 days from date of 341 hearing... my 341 was Aug 17 ,2nd confirmation hearing is tomorrow 10 Nov, my bar date(last date for the CCs to file claim) is Nov 15. I believe that Federal Gvmt has 120/180 days from 341 date!

[grnclvrs]

So, my 341 was 9/17 which gives a last day to file a claim as 12/16. First confirmation hearing was continued to give creditors more time to pay. My new confirmation hearing is 1/17. Can I expect to be confirmed that day or can the judge continue again? The judge in the case is CED if anybody has any experience with him/her.

[enginegirl]

So, my 341 was 9/17 which gives a last day to file a claim as 12/16. First confirmation hearing was continued to give creditors more time to pay. My new confirmation hearing is 1/17. Can I expect to be confirmed that day or can the judge continue again? The judge in the case is CED if anybody has any experience with him/her.

I am on my third confirmation date..... in So FL region.... I am hoping that this will be it for me! Dec 8! the one good thing it that in FL the countdown starts from the day you file.. so I am 4.5 months in!

[jcj112562]

The judge can do whatever the judge wants to do...although up here, the judge was not even in the room for the confirmation hearing, so as long as the trustee does not object to the plan, you should walk out of the hearing confirmed.

As for the lack of claim from a CC, it will really not change much, as the money that does not go to them will go, as mentioned above to any shortage that occurs to the secured creditholders, who will file an amended claim to recover any shortfall between what they sell the house for and what is owned on the mortgages. At least, that is how I understand this. Your mileage may vary, void in NJ.

John

[grnclvrs]

I got confirmed on Friday. BK judge dropped number of payments from 60 to 57. Still no CC's listed on trustee13.com for my case. Anyway, now that the plan is approved and I am confirmed when am I not responsible for that albatross of a house anymore? Does the mortgage company own it now? Can I cancel the insurance?

[DebtEnder]

You own it till it is foreclosed on and the title changes names. Regarding insurance most people here suggest you keep it as anyone on the property could hold you liable for injury. I would make sure to have the insurance reduce the coverage amount to as little as possible however.

[lrprn]

If you owe more than the house is worth they still get an unsecured claim for the difference between what it is worth and what you owe.

Let's try this again. Since the OP filed bankruptcy and surrendering the house is a part of their bankruptcy, the bank has to eat whatever the difference is between what the house sells for at auction and what the OP owed on the loans. That's the beauty of bankruptcy - whatever the filer owed to the lender on the house is wiped out if the asset is surrendered. Otherwise, what's the point of filing bankruptcy?

[LadyInTheRed]

I got confirmed on Friday. BK judge dropped number of payments from 60 to 57. Still no CC's listed on trustee13.com for my case.

Don't rely on trustee13.com to determine what claims have been filed. The trustees do not always keep that info current. Pacer is where you need to look to be sure.