If a Creditor doesn't file a claim against your debt...

[CAB_44]

so...if a creditor doesn't file a claim against your debt, does that mean that your debt to them is just erased and you don't have to pay it out in your plan?
I am trying to find a copy of "personal bankruptcy for idiots" ...(cuz, I is one).....hahahaha~ not really, all book stores seems to be sold out of them....now what does THAT tell us.....????
And if that is true, then does that just lower your total debt due?
What happens here.......confused again~
Thanks guys~

[Minnymouth]

If a creditor does not file a claim with the Court when you file bankruptcy and he is notified, then the debt is discharged without him being paid anything at all..................

He has to file a claim to get paid.............

[CAB_44]

thanks Minnymouth~
hmmm....that's interesting....
so, the repayment plan that is submitted to you before or when you sign and file, if the creditor doesn't file a claim, then that would definately alter your repayment plan......right?
I'm just so wishy washy on this....I (dang it) want to know for sure WHAT my repayment plan is BEFORE I sign and have my attorney file.....guess that's NOT gonna happen...huh?!

[Minnymouth]

Your attorney might be able to tell you what your repayment plan will be, mine did......... a rough estimate......

I understand that they have to file a claim to get paid.......

[CAB_44]

yes, our attorney gave us a proposed repayment plan....it was awful Minny~
it was 2300.00 x 60 months....awful....a total 100% + repayment~ we declined to sign, and she suggested that we wait another month or so...
I know that in March, I sold a car on my own,which I had to deposit that money into my account to pay off the debt to my bank..... and then the bank just gave me the loan money to deposit into our checking to pay for the new car that I purchased, so that showed to be income.....but that was 6 months ago at this point...so I'm not sure if that was why she was suggesting that we wait another month....
I'm just crazy with the thought of that payment......, you know for 36 months, I could tolerate it I think...but 5 YEARS.................uuuugghhhhh.....she hasn't got back with us yet~ I am to talk with another attorney on Monday~

[Minnymouth]

Yes, I would wait............ and yes I would also chat with another attorney and see what they have to say......

$2300 is a high payment each month.......... would be very hard to cough up for 5 years............

See what other options might be available when you speak to another attorney......