Chapter 13 application tipping off creditors?

[BKFreedom]

For my situation, I am trying to weigh the risk of Chapter 13 verses Do-Nothing. I have non-exempt assets that I am trying to keep with the use of Chapter 13 for business purposes. Chapter 7 is the worst option for me.

Right now, the creditors do not know about certain assets I have, so are not likely to sue me given other mortgage foreclosure debt on the credit report. But, if they get wind of these assets during Chapter 13 process, and the application does not get approved in the 341 Hearing, I am concerned they know gained valuable intelligence they would not have had otherwise.

Question: If I file Chapter 13, but it is not approved or is dismissed, will the creditors have access to the information that they can than use to now seek an effective judgment?

If there are other threads on this topic, please let me know.

Thank you in advance for any insight into this nuts and bolts topic.

[Flamingo]

Your bankruptcy filing is public information and can be viewed online (via PACER) or in person at the BK Court by anyone wanting access. That would include the listing of all your debts, assets and other information. Every Sunday in our local paper, there is a listing of Chapter 7, 13 and 11 Bankrupticies listed showing the debtor(s) names(s), town and the amount of debts and assets in the filing (dollar amount).

A company I worked for went bankrupt several years ago and the employees received filing paperwork due to being priority creditors as to being owed sick and vacation time. I believed I received everything cause there was a full listing enclosed of all debts and assets and a cover letter from the attorney indicating to call if any questions. I don't know if the same is done for a Chapter 7 or Chapter 13 filing.

[optimistic1]

To assume that the creditors will NOT sue you is preposterous.

[HHM]

For my situation, I am trying to weigh the risk of Chapter 13 verses Do-Nothing. I have non-exempt assets that I am trying to keep with the use of Chapter 13 for business purposes. Chapter 7 is the worst option for me.

Right now, the creditors do not know about certain assets I have, so are not likely to sue me given other mortgage foreclosure debt on the credit report. But, if they get wind of these assets during Chapter 13 process, and the application does not get approved in the 341 Hearing, I am concerned they know gained valuable intelligence they would not have had otherwise.

Question: If I file Chapter 13, but it is not approved or is dismissed, will the creditors have access to the information that they can than use to now seek an effective judgment?

If there are other threads on this topic, please let me know.

Thank you in advance for any insight into this nuts and bolts topic.

No offense, but that is one of the dumbest objections to filing I have ever heard.
Chapter 13's always get approved, it is the default chapter of BK, when in doubt, you file a chapter 13. Chapter 13's get dismissed because of the debtor not wanting to go through with it, not because the court of the trustee object. Bottom line, if a chapter 13 is dismissed it is because the debtor wants it dismissed or is not strong enough to make the necessary changes in lifestyle to make it work.

[EricaCallaha]

Honestly, they can find your assets if they want to. Unless you have everything buried in your backyard with no way to trace it...they will find it. Like the moderators have said in above posts...13's always get approved. That is the way trustees make their money. Creditors would rather get something instead of having to sue you and get pennies for years.

Good luck.