Credit union filed a claim..i dont understand

[jerzey]

I do not understand

We filed chap 7, have 2 car loans with a credit union
ONE loan is a totaled car loan we owe $1,900
the Other is my car i drive our payments are up to date
I owe 13k value is 14k ( on a good day)

So the credit union filed a claim
does this mean if there is moeney to be handed out, they now have their hand in their pot

OR does this mean they want the car?

OR will they try to sue?

thanx

[FreshLikeADaisy]

Jerzey, is your Ch7 an asset or a no-asset case? If it's an asset case, and you have non-exempt belongings that the trustee can seize and sell, creditors are instructed to file claims regardless of how much the assets are worth. They may or may not get anything, but they are still instructed to file a claim.

If you look at the bankruptcy notice you were mailed by the court -- it's the same one all your creditors got -- you will see where it clearly tells the creditors to file a claim (or NOT file a claim, if yours is a non-asset Ch7). If they filed a claim and the notice clearly said NOT to file a claim, they're out of luck anyway.

Hope this helps. Good luck!!!

[JRScott]

If your an asset case like Fresh says this is an attempt to collect most likely the totaled cars amount. It is unlikely they'd get all of it but are probably trying to get some piece of the pie.

[jerzey]

as far as an assest or non assest IDK
thanx to both of you

it seems like i was hoping they just have their hand in the pot in case money shows up