chapter 7 bankruptcy: what schedule does a judgment go in?

[catos2010]

A have a few judgments from a credit card.

[catos2010]

Hola

[tcreegan]

Hi catos,

They go on line 4, statement of financial affairs.

When you get a Notice of BK w/ a case # and file date, go to/get ahold of the court where the judgement was entered and get the judgement vacated. The clerk of the court can tell you how to do this, what documents you need, how to file them.

Good luck with your filing!

Tom in Colo

[catos2010]

Hi Tom in Colo

Thank you for your help. I already have those papers on my hand and I am trying to input all the info in my bk. Do they go on shedule F and f they do, how do I put.
do I type the attorney' name and case number ?, do I just do it under the credit card name or both ?, could you please give me a hand. I have done everything else

[tcreegan]

Hello again catos,

Yup, the original creditor goes on schedule F and in your creditors matrix.
And if it was a collection agency or lawyers office that filed the judgement, you list them too.

I double-listed the debt amount, but apparently that was a minor faux pas. (Nobody said anything in my case)
From what I have seen, on automated forms you can only input a number, so folks put in $1 for one creditor and the full amount for the other.
If you are filling it in by hand, you note something like 'assigned to [collection agency]' and give them the full amount.

The case # and court name go on the statement of financial affairs line 4 but not on schedule F

Keep up with the questions!

Tom in Colo

[catos2010]

Thank you very much for everything, I wouldnt have done it without you.

So, to see if I understood everything, on Schedule F I dont have to put the judgement with the case numbers, I only have to put the Attorneys name, for notification and Lenders with their account number, for instead, my judgment is with American Express, it has a case number, so all I do is type in American Express' Account Number and then on statement of financial affairs put the case number and court name.

One more question, is it bad on the means test that the presumption arises or does not !?

Thank you in advance for alll your answer.

[ccsjoe]

Let's just say it is not a good thing for the presumption to arise. If yours arises, maybe you want to share some more information and see if we all can help? The presumption of abuse means your case will be scrutinized by the UST looking to push you into a CH13 or straight out dismissal.

[catos2010]

thank you !!!, I will look into my papers and I will write back

[catos2010]

expenses vs. income

How bad is it if I get $ 3100.0 a month from employer and my expenses are $3600.00, that would not include credit cards charges

[LaurieM]

If you only list the local court and the Plaintiff's attorney involved in any court action in Form 7 and not in Schedule F, they will NOT be noticed by the bankruptcy court of the filing, nor will they appear on the discharge notice. We always list both the court and the Plaintiff's attorney with NO amount in Schedule F and indicate that they are NOTICE ONLY parties.

[rjmwx81]

Hi catos,

They go on line 4, statement of financial affairs.

What if it's an older judgment? I thought the statement of affairs asks for cases within the last year?

[LaurieM]

What if it's an older judgment? I thought the statement of affairs asks for cases within the last year?

If it's an older judgment then you still owe the creditor - list it in F and list the court and the attorney for the creditor separately as "NOTICE ONLY" entries in F. If you're doing this alone, once you get the official notice of filing from the court, take a copy of it over to the local court along with the latest document you received on the judgment or something with the local case number on it so they are aware that you filed a bankruptcy.

[catos2010]

ok. who do have to give it to and what do I do after the paper is given to someone ?

[tcreegan]

Hi again catos,

You actually have to "file" a document with the court clerk for the court where the judgement was entered. They will have the exact form you should use, it is slightly different in different courts. (You do this after you file the BK, you need a copy of the BK notice w/ the BK case # and filing date)

Thanks LaurieM for the info, I did not know that they would be notified off schedule F....I thought it was just folks on the creditors matrix....

Good help around here catos!

Tom in Colo

[tcreegan]

....forgot to tell you catos that you want to 'vacate' the judgement.