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    Scedule "F" help

    Could someone explain what contingent means? And what "unliquidated" is.
    I really cannot figure out on this form what I need to put.
    Please help and thanks in advance>

    #2
    Contingent, implies that its a conditional circumstance. If something is contingent, it is based on a given event or likeliness that a certain scenario is most likely but not completely foreseen.

    Unliquidated, would refer to assets that are not immediately available in cash. Stocks, bonds, or other securities, that have not been sold for the cash equivalent, would be unliquidated assets.

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      #3
      None of my unsecured credit cards would be either of these would I just leave these blank then?

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        #4
        There's a sticky at the top of the Ch 7 section of the Forum. "What Trustees Look For."

        That thread has a link to a petition that has all kinds of notations highlighted and explained.

        On those boxes,...........

        Contingent is where the debt is contingent upon certain circumstances happening. You took out a loan do something, but all the terms of agreement have not fallen into place. That kind of thing.

        Unliquidated is only supposed to be checked when the approximate amount of the debt cannot be determined by reference to account statements, invoices, etc.

        Disputed is where you are disputing liability for part or all of the debt.

        The notation on Schedule F for those boxes said they are often checked in error.

        As you're filling out your forms, you might reference back to that thread and link for info. It's really very helpful.
        Filed Ch 7 - 09/06
        Discharged - 12/2006
        Officially Declared No Asset - 03/2007
        Closed - 04/2007

        I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

        Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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