top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

zombie debts & bankruptcy

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    zombie debts & bankruptcy

    I'm new to the forum, but I've been reading the posts for a couple of weeks, and I'm finding a lot of valuable information to help us.

    We are in the process of getting all the paperwork together to file a Chapter 13 on our debts. We're deep in CC debt, but have been able to pay the monthly payments on time. Unfortunately we had one card that our son was responsible for, even though he was only an authorized user. Due to a MAJOR screwup with the electronic payment between the Bank and Citi, the card went into default. We didn't know about it until after they started calling demanding the entire balance. We tried to talk to them about getting the payments caught up, but they refused to listen. So, here we are getting ready to file.

    Last year, I received a notice concerning a debt that I "supposedly" owed. It was addressed to my previous married name, so I know this debt is at least 20 years old. I've been reading about zombie debts, and how to just ignore them. I've been getting calls monthly from some company called "Allied Interstate" about the debt. I googled the phone number on the web and found this is one of the "zombie" debt collection agencies and that they've been investigated/reported a number of times.

    My question is, Do I claim this debt on the bankruptcy? How are zombie debts handled?

    Any help would be appreciated.

    #2
    If you have enough info to include it in your BK, you are not hurt by doing so. By including it, it will bring certainty to the status of the debt.

    Essentially, there is little down side to you for including it in your BK. However, since its a chapter 13, I believe there is a place on the list of creditors where you can mark that you dispute the debt.

    Do you have a sense of what percentage you will end up paying to your unsecured creditors?
    Last edited by HHM; 11-03-2006, 12:47 PM.

    Comment


      #3
      Had a meeting with the lawyer on Thursday. He said to check our credit report to see if it was listed there. I got the reports and they don't appear, so I'm inclined to just ignore it. It's at least 20 years old, if not older, so the debt is way over the 7 year period.

      It looks like we're at 100% payback.

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X