B7 Stmt of Finan. Affairs help on #3

[bethgould]

form B7, Statement of Financial Affairs

Line 3: Payments to Creditors

HELP!!!

It says to list all pmts on loans, and other debts to any creditor made within 90 DAYS immediately preceding the commencement of my case, with aggregate value above $600.

Does this mean I list my car loan pmts, and also stuff like rent on my apartment? I didn't have anything of value other than my car I was making pmts on, since I don't own the apartment I rent, right? All other pmts I've made were utilities, groceries, etc.

[mtbc]

Sure looks like it on a plain reading, doesn't it? It didn't occur to me that my rent might count, but maybe you're correct to suspect it does and I ought to have included it. (We're not month-to-month.) I don't have a car payment but I've been making $500/month installment payments for back taxes so I put that there. I don't think my trustee actually read it though.

[bethgould]

I guess what I am not clear on, is the bit that states "aggregate value of $600 or more". I don't know if that means all pmts I have made on items I own that have a value of over $600. I don't own my leased apartment, but my monthly pmt is over $600.

Sure looks like it on a plain reading, doesn't it? It didn't occur to me that my rent might count, but maybe you're correct to suspect it does and I ought to have included it. (We're not month-to-month.) I don't have a car payment but I've been making $500/month installment payments for back taxes so I put that there. I don't think my trustee actually read it though.

[rcoveles]

I guess what I am not clear on, is the bit that states "aggregate value of $600 or more". I don't know if that means all pmts I have made on items I own that have a value of over $600. I don't own my leased apartment, but my monthly pmt is over $600.

It means payments to any one creditor totaling $600 or more - like if you paid $200 for 3 months to one creditor, it would qualify. My lawyer had to explain that one to me too!

[charismamill]

Line 3 is basically asking you to list all of the payments that you have made to your creditors in the past three(3) months totaling $600 or more. A creditor is typically one to whom you owe money for debts due. Rent, groceries, and utilities are not creditors but merely expenses.

[bethgould]

the clouds part & angels start singing!!!

NOW I understand, you totally saved me!

It means payments to any one creditor totaling $600 or more - like if you paid $200 for 3 months to one creditor, it would qualify. My lawyer had to explain that one to me too!

[LimpDisc]

It means payments to any one creditor totaling $600 or more - like if you paid $200 for 3 months to one creditor, it would qualify.

Perfect!

[coolmom04]

So that means I should list my mortgage or car payments? What happens with those payments if I plan to keep my vehicles and home? I know I've paid one cc over $600 in the past 90 days (we're filing on 03/10), but I will have paid almost $2000 on car payments and $4500 on mortgage payments.