Filed Ch7 Wednesday. Only one question I can think of...

[MikeW]

Filed ch7 on Wednesday. Today, received an email from my attorney containing a copy of my petition. All of my debtors are listed. So far so good. Only one question. The "Amount of Claim" listed on most of my credit card debts is low because my attorney used my numbers from 3 weeks ago, when I first filled out their forms. Since that time, interest has accrued, balances have changed. On my mortgage which I'm listing, I never did call in for an exact payoff number. So I'm sure the number I provided 3 weeks ago is a little bit low. Do you think this is a big deal? We're only talking a difference of $100 to $300. Do those numbers under "Amount of Claim" have to be exact?

Thanks!
MikeW

[justbroke]

The amounts on the Schedules should be close but are NEVER perfect. The fact that you keep accumulating late fees and penalties up to filing, are all expected. The main reason for the Schedules is to show that you owe some debt to some creditor and that the amount is "approximately" the amount listed. In fact, where a debtor doesn't know the exact amount, attorneys will often put "$1.00" and may even mark it as unliquidated or disputed.

So, as long as you are reasonable and have some basis, it is good. (The amounts could be very important when you are close to the debt limits in a Chapter 13 (11 USC 109(e)), but not in a Chapter 7.)

Don't worry!

[MikeW]

Thanks justbroke! The waiting begins then.