Listing setoffs on Sched. F

[KP1980]

I have claims that are setoff with the creditor, and now the claims are with a collection agency.
Now where do I list the amount of the claim. With the creditor or with the collector, In regards to schedule F?
Also, how should I these list collectors on the schedule?

[Tbornetun]

List both the original creditor and the collection agency. Make sure that ANY interested party is included so they show on the matrix.

[HHM]

Setoff mean that you owe someone $X amount of money, but because of whatever circumstances, that amount you owe the creditor should be reduced. (i.e. a counter claim of sorts).

What exactly is your claim for setoff with these CA's and how certain are the claims?

[KP1980]

Setoff mean that you owe someone $X amount of money, but because of whatever circumstances, that amount you owe the creditor should be reduced. (i.e. a counter claim of sorts).

What exactly is your claim for setoff with these CA's and how certain are the claims?

Example; I owed WaMu $4,000. They never got the money from me so it was charged off. Now I owe the collection agency the $4,000.

Im thinking setoff and chargeoff is the same, no?

[HHM]

Example; I owed WaMu $4,000. They never got the money from me so it was charged off. Now I owe the collection agency the $4,000.

Im thinking setoff and chargeoff is the same, no?

Nope. You list both Wamu and the CA. You don't really need to get into the whole set-off situation in this circumstance.

[KP1980]

Nope. You list both Wamu and the CA. You don't really need to get into the whole set-off situation in this circumstance.

So I list both, but who do I owe?

[Tbornetun]

Once its discharged...NO ONE! lol
You owe the original creditor, but the collection agency has an interest in it because they collect a percentage if they can get you to pay.
When doing the schedules, I first list the original creditor, then below it on the next line I list the collection agency as if it is a separate debt. In the considerations box, I notate that it is a collection company for the original creditor.

[KP1980]

Once its discharged...NO ONE! lol
You owe the original creditor, but the collection agency has an interest in it because they collect a percentage if they can get you to pay.
When doing the schedules, I first list the original creditor, then below it on the next line I list the collection agency as if it is a separate debt. In the considerations box, I notate that it is a collection company for the original creditor.

Thanks. That is how I did it.