what to do when amount owing to creditor is unknown?

[onlywayout]

What do I do when the amount owing to a creditor is unknown? I have a couple different instances of this. I have a few judgments, i have copies of them but I dont know the total amount owed after interest and costs, etc. I owe a former landlord money, I dont exactly want to stir the pot by calling and asking how much I owe...etc. What does one do in these instances?

[JRScott]

Well consult with your lawyer but probably a best approximation is good enough. If you don't even have that just leave the amount blank but still list them.

[StartingOver08]

Also, you can put "unknown" in the schedules as a value. Check with your attorney.

[HHM]

Put "unknown". and check the "disputed" box. However, if you have a number from the judgment, your fine to use that number even though the amount "claimed" to be owed by the creditors is probably higher.

The actual amount of debt is usually not important (unless you are pushing the debt limits for chapter 13).

[anuta]

What are the debt limits for a chapter 13?

[HHM]

What are the debt limits for a chapter 13?

I don't have the exact figures off the top of my head but it is
1.1 million secured debt (i.e. mortgage, cars)
$330,000 unsecured debt (credit cards, business personal gaurantees, lines of credit).

[anuta]

Thanks HHM (:

[justbroke]

What are the debt limits for a chapter 13?

Look at 11 US 109(e). They do change over time, and the last update to them was in 2007.

Unsecured: $336,900 (4/1/2007)
Secured: $1,010,650 (4/1/2007)

The next adjustment will be 4/1/2010. Remember, this is for liquidated, undisputed and non-contested debt. Anything that is un-liquidated, disputed and/or contested do not count.