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    #1

    Unsecured claim discovered-worry?

    I was checking PACER today just to see how things were coming along, low and behold I came across something interesting. Waiting to hear back from atty's office (turning blue by now), anywho I cosigned on a natl city acct (unsecured visa card) that defaulted back in 1998. Fell off my CR (chargeoff) in 2005, so it was not on the CR for the bk matrix. I'm past SOL and suit-they cant sue me or anything it so old...but sure enough, they sent the courts an usecured claim for like $3500. So what happens next? Does the court add this amt and discharge it too? I'm sorta stunned, not really suprised given how ASSet Acceptance is, any words of advise or input, thanks everyone!
    Filed Ch 7. Jan 14th 2011. 341 Feb. 24th 2011. DISCHARGED April 26th 2011. Closed May 10th, 2011. Huge weight off our shoulders! Scores as of 5/14/11 : TU-639, EQ-642, EXP-602
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    #2
    If you're an asset case, filing a claim is normal in the course of doing business. If you're no asset, then they just wasted their time and bandwidth by filing. Most chapter 7 cases are no asset and anyone with any type of claim are instructed not to file any claims unless instructed to do so by the courts.

    Don't worry.
    All information contained in this post is for informational and amusement purposes only.
    Bankruptcy is a process, not an event.......

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      #3
      Yeah, it says on my bk paperwork from the courts, no asset. Just seems a little fishy to me why they would do this. Thanks Frogger!
      Filed Ch 7. Jan 14th 2011. 341 Feb. 24th 2011. DISCHARGED April 26th 2011. Closed May 10th, 2011. Huge weight off our shoulders! Scores as of 5/14/11 : TU-639, EQ-642, EXP-602

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        #4
        They do that because in case an asset is discovered they can get a piece of the pie.
        Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
        I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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          #5
          I'm surprised that this can even be allowed. 1998? That's 13 years ago. S.O.L. is four years maybe five I believe in FL. 'Hub

          Just a moment...
          http://law.findlaw.com/state-laws/civil-statute-of-limitations/florida/
          If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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            #6
            Originally posted by newbie2 View Post
            They do that because in case an asset is discovered they can get a piece of the pie.
            True, but.........

            Anytime an asset is discovered to be administered, creditors are notified to file claims. In a no asset case, creditors are specifically instructed NOT to file claims.

            This is why it is so important to list all creditors when filing a Chapter 7. If an asset is discovered after the fact and a creditor was not listed, then they did not have an opportunity to participate in the distribution process, and it is "possible" that they would have a case as to their debt not being discharged.
            All information contained in this post is for informational and amusement purposes only.
            Bankruptcy is a process, not an event.......

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