What does Transfere of Claim Other than for security mean?

[mark3413]

Can someone please tell me what a "Transfere of Claim other than for security" means.I received a letter today from my attorney with this in it. I'm not the smartest on these terms, so I don't know if it's something normal, or something to be concerned about. My plan was confired over 11 months ago, and I've been on time everytime.This is the only letter I have received since the plan was confirmed, and I have just laid low, and been paying on time in my chapter 13, that is in month 13 of 36.

[daisey]

http://www.arwb.uscourts.gov/new/dir5-013.PDF

The second paragraph explains it pretty simple. I don't think its anything to worry about, and coming from a top notch worry wart........that means a lot!

[mark3413]

Thanks Alot. I feel better now.

[aa06a47]

Can someone please tell me what a "Transfere of Claim other than for security" means.I received a letter today from my attorney with this in it. I'm not the smartest on these terms, so I don't know if it's something normal, or something to be concerned about. My plan was confired over 11 months ago, and I've been on time everytime.This is the only letter I have received since the plan was confirmed, and I have just laid low, and been paying on time in my chapter 13, that is in month 13 of 36.

That just means one of your creditors has sold your claim. Your creditor is bascially selling the debt and getting the money up front while the person who bought it will take the monthly payments. Nothing to worry about.