amending schedule f

[Tanmara]

It's just a notice letting you know they've added you as a creditor with a debt they are seeking to discharge. If you had reason to believe [per Bankruptcy Code § 727(a)] that their debt to you shouldn't be discharged, you would have to file a complaint objecting to the discharge of your debt. You should receive another notice from the court giving you until X date to file the complaint, if that were to apply. Once the Bankruptcy Court determines if there are assets to distribute, they would then send you another notice to file a claim for what this company owes you so that you could receive a distribution of a portion of those assets.

free2breathe, thank you,

I guess my wife and I will have to file a complaint to try and compensate some of our lost investment, though I hope this is a wise decision on our part. The investment was 7,500 dollars, but I don't want to start something that will not be worth the trouble in the long run. I am sure every case is different in how they are handled, but that money would surely come in handy for anyone in this economy.

Again, thank you for the insight. Tanmara

[free2breathe]

I'm not real familiar with the objections to discharge, but I think you will probably have to wait for the opportunity to file a Proof of Claim, if the opportunity arises. The basis for objection to a discharge of a specific debt has very specific guidelines.

You may not get a notice of deadline to file a proof of claim. If you do, then I hope you are able to get some of what they owe you. They have a few steps to go through before a panel trustee determines whether or not there are any assets to distribute. They will definitely send you a notice if they determine there will be a distribution. It may never amount to much. The secured and priority unsecured creditors get first dibs at anything available for distribution. Whatever is left over would be doled out to the non-priority unsecured creditors (you and your wife and all of the other timeshare holders).

There may be someone lurking on the forum who has more knowledge to share with you about this sort of a situation. Hopefully they will chime in soon.