Terminology Questions

[nervousSC]

I went on Pacer today and looked up when my 341 meeting will be and it also listed some other dates and I am confused about what each one means...can someone help???

Deadline to File Proof of Claim - 10/18 % 12/13-Govt.
Deadline to File Complaint - 9/18
Deadline to Object to Exemptions - 8/18

I know these are elementary questions, but I'm confused...

Thanks.

[anonymuse]

Deadline to Object to Exemptions from US Gov't BK Site
A trustee's or creditor's objection to the debtor's attempt to claim certain property as exempt from liquidation by the trustee to creditors.

Deadline to File Complaint
A complaint objecting to discharge and the time fixed for filing a motion to dismiss the case for substantial abuse

Deadline to File Proof of Claim from US Gov't BK Site
A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. (There is an official form for this purpose.)

[aa06a47]

It is wise to keep track of those dates, they are important.

Deadline to object to exemptions ...once that one passes, they are not looking for any additional assets. already past in my case.

Deadline to file complaint...means the creditors won't be objecting to your case when that one passes. 7/11 for me.

Deadline to file proof of claim, just your creditors making claims for any money collected. This one is important only in that submitting a claim, the creditor consents to the jurisdiction of the court, waive jury trial rights. If your paid your creditor a large preference payment and will be sued by the trustee, they may not file a claim which allows them the rights of a jury trial. Not sure that has any impact on the bankrupt person though.

There are only 2 of my creditors who have not filed a claim...Citi and Chase. Citi did file a claim for the secured part of the debt, but not the unsecured. I am not sure what is taking them so long, unless they plan on sueing or something. (Citi doesn't have a case at all, most of the stuff I owed them was at least a year old...Chase though might have something against me, but all that debt was 4 months old or older)

[nervousSC]

Thanks so much for your replies!

Now, if a creditor does not file a claim they can still sue you???? When? It seems like for most in CH 13 it would be 5 years right? That's kind of a scary prosepect to "look forward" to after you've made your last payment.

[aa06a47]

Thanks so much for your replies!

Now, if a creditor does not file a claim they can still sue you???? When? It seems like for most in CH 13 it would be 5 years right? That's kind of a scary prosepect to "look forward" to after you've made your last payment.

No, that is not what that means. They can only file a complaint against the dischargability of the debt up to 60 days after the 341 meeting. They still must file a claim in order to get paid, especially in a chapter 13...which if memory serves me, they have 90 days after the 341 meeting to do that. A chapter 7, who cares, they probably won't get anything anyways.

If a creditor doesn't file a claim, and the trustee wants to recover a preferential payment from them, it gives the creditor more options on fighting it....I guess that is what I'm trying to say. It has really nothing at all to do with the debtors at this point. It is between the trustee and creditor.

All you need to be concerned about is getting through the 60 days after the 341 meeting. Once your past that, they can't do anything except accept what the court says.

[nervousSC]

WHEW.....OK, I'm breathing again!!! LOL!