Do all creditors typically file claims?

Hi All...I was just wondering if anyone who has already had their experience would chime in. What would you say the percentage of creditors who file claims would be? Does it depend on the amount on the CC? I have $28,500on CITI, $20,000 on Capital One, $3,000 on Target Visa, $1,000 on Discover and $2,000 on AOL (Chase). (Boy, does that look bad typing them all out like that). Anyway, are some companies more apt to file a claim versus another? Just wondering what the odds are that all 5 will file claims. Thanks to all...

From what I've read, it's really hit or miss when it comes to filing claims. There's no way to really predict with certainty who will file their claims.

Chase and 2 of 4 CapOnes filed on ours (not sure why the other 2 CapOne accounts didn't).

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So, 3 out of the 5 you had filed a claim. Do you recall if the amount on the ones that claimed were higher than the ones that did not? Or were they all pretty much the same? I know this seems silly to ask but I am all about law of averages. Thanks...

So, 3 out of the 5 you had filed a claim. Do you recall if the amount on the ones that claimed were higher than the ones that did not? Or were they all pretty much the same? I know this seems silly to ask but I am all about law of averages. Thanks...


Ohh...no, we had quite a bit more than five :blush2: I just commented on the ones that we had in common with you.

Have you filed yet? Are you trying to come up with what your payment would be?

Even if we had a dozen more claims filed or a dozen less claims filed, it would not have mattered--our payment would have remained the same.

The percentage of payback that each claim would get would be the only thing that changed.

Payment amount = disposable income

Percentage paid back = disposable income x the number of months on the plan - MINUS trustee and attorney fee - MINUS priority claims DIVIDED by the number of claims filed and the $ amount of the claims. That's very basic explanation. Very basic.

(waiting for someone to make sure I have this correct ;) )


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That seems to be our problem...we are over the median income (not by a lot, less than $10,000) but we are negative on our income versus expenses. I truly don't know how anyone can be under the median income in the state of FL and have ANY disposable income unless they do not have children, insurance, cars or rent to pay. The worst part about it is that we used to live in Indiana and the median income is higher there than it is here in FL but it is much more expensive to live here in FL, how much sense does that make? Sorry...I'm kind of hijacking my own thread...I apologize.

Most of my smaller ones filed claims. My top ones, including Patelco ( $17K) & Amex ( may file a objection though ), $18K haven't yet. They have another month though because my paperwork didn't have any deadline filled in and I stupidly brought that to their attention so the judge ordered an deadline extention.....just because I felt like being nice and reminding them LOL
Wont matter how many file claims though. I'm over my payback right now with those who did because after our car and paying off trustee and atty, there was only about $4k left for unsecureds which is about 5%.

So let me understand this correctly, MM, once your deadline passes, it is what it is. So if one of your top ones don't file a claim, they get zero? Then this amount is what will determine how long you pay, right? So if the total amount of creditors that filed claims is say, $25,000 out of $50,000, if you pay off the $25,000 in full then you paid 100%? I'm so sorry if that sounds confusing...just trying to clear this in my head. Thanks...

i have 80 claims and only 12 filed a claim but im paying as if all 80 filed a claim, why is this?

Tallberry, you are correct. Once the deadline passes, if the creditor does not file a claim, they get zilch. I'm only at 5% payback so it wouldn't matter if they all filed claims. If you're at 100% payback, then yes, you will pay your scheduled payment until they ( the claims ) are all paid off and your BK could be shorter then 5 years as a result.

Papa, you are NOT paying as if all 80 filed a claim. Your attorney HAD to have figured your expendable income incorrectly if you say you can't afford the $1,000 a month, which really shocks me, anyway. How could you afford 80 creditors? They had to have been way more then $1,000/mo!! Nobody can even remotely help you figure this out unless we had your income and expenses. Even so, if you would be paying that $1,000/mo, you would only pay the creditors that filed claims and your BK could end up being less then 5 years.

The payback will pay off all priority and secured claims first and the attorney. THEN it will give the rest to unsecured. My original plan called for a 10 percent payback. However, as is typical in chapter 13's only a few filed claims. So the trustee raised my percentage of payback to 35 percent. Then when that was paid off, I still wasn't at the 36 month mark, so he raised the percentage to 61.5 percent. That should get me to the 36 month mark. So, if only 12 file claims, or you only have say 25,000 in claims filed, instead of paying off only the percentage called for in your plan, those creditors that DID file claims will get more money. Everyone else who didn't file a claim gets zero at the discharge. But you have to complete your plan for that to happen. If you lose it during the course (get dismissed) then ALL of your creditors have the right to come after you AND they can tack on all the late fees, penalties and interest that would have accrued. Your payment will NOT go down. As to finishing your plan early, lets say that the 25000 to unsecured, with your current payment would be paid off at 100 percent in less time, then you would be discharged early.

thanks to all for the explanations...extremely helpful. I can easily say I get so much more information from this forum then I could ever get from my attorney. Invaluable!

rrockinggramma, were you under the median income? Is that why you had to get to the 36 month mark? I am over the median income but from what I understand I can pay off in 36 months instead of 60 months as long as it is 100% payback. Is this correct?

Tallberry, Some people don't have a lot of unsecured debt but are forced into a 13 because of income OR to save a secured item such as a home. If you are in 100% payback and all your disposable income goes into the plan, then yes, you can be in 36 instead of 60.