Doing it on my own. Questions, help please!

[confuzzled]

I am filing Chapter 7 on my own (my debts are pretty simple). The problem is there are a few things I do not understand. On the "Creditors Holding Unsecured Priority Claims" sheet, I am to fill in "Date Claim Was Incurred and Consideration For Claim. If Claim Is Subject to Setoff, So State". I am not understanding "consideration for claim"? Also, what is Setoff?

On the same sheet, there are boxes that may be checked labeled "Contingent" and "Unliquidated". I am needing explanation on these also.

So far, that's all I've questioned in the whole packet. Any help is greatly appreciated!

[confuzzled]

I found the answers to my questions on contingent and unliquidated claims. I'm still stumped on claims subject to setoff? Thanks!

[AZbankruptcycli]

look on Internet for document preparers call them and act like you are a client and want to review what certain things mean. I know on mine unliquidated means to list the amount of the debt balance and what ever the actual amount is is the amount that will be discharged. example car you think the payoff is only $17,000, but court finds it to be $20,000 then the rest of that debt is included by virtue of selecting that box.
for $200 bucks most places will fill out the forms for you, and that sure beats what a lawyer will charge


On the same sheet, there are boxes that may be checked labeled "Contingent" and "Unliquidated". I am needing explanation on these also.

So far, that's all I've questioned in the whole packet. Any help is greatly appreciated![/QUOTE]