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the creditors with "0" balances

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    #1

    the creditors with "0" balances

    Do we have to list the creditors with "0" balances by law when filing for Chapter 7? Is that a requirement BY LAW? I asked the question few hours ago and got a response but I just wanted to find out if it is reuired to file by law.

    Thanks again
    Tags: None
    #2
    I don't think you're required to do that. I didn't list my zero balance accounts and my laywer didn't say anything about it. I just got through my 341 meeting yesterday and the trustee didn't mention them either.
    Retained an Attorney to file 4/19/2006
    Signed Paperwork with Attorney and filed 6/8/2006
    341 Meeting scheduled for 8/1/2006 9:00AM -DONE
    Discharged 10/24/2006

    Comment

      #3
      That's actually one of the follow-up questions I'll be asking my attorney in our next meeting. I don't want to do anything to screw up my Ch 13, but I don't particularly want to lose my Dell or Chevron cards (both zero balance). The gas cards come in handy when you have to fill up and it's still a few days from payday!
      09/13/06: -- C13 filed with Courts
      12/04/06: -- Plan confirmed!
      Payments left: -- 38

      Comment

        #4
        Correct. You must list all debts. Zero balances are not debts. However, if you aren't 100% sure, it's not a bad idea to list them, anyway.

        Comment

          #5
          Originally posted by GoingUnderInNV
          That's actually one of the follow-up questions I'll be asking my attorney in our next meeting. I don't want to do anything to screw up my Ch 13, but I don't particularly want to lose my Dell or Chevron cards (both zero balance). The gas cards come in handy when you have to fill up and it's still a few days from payday!
          I hate to be the bearer of bad news, Going Under, but in case you didn't know already, creditors share bk filed names with each other in a kind of 'bk database' they all have access to. So even though you don't list a $0 card on your creditor list, they can still find out and may cancel your card anyway. It's perfectly legal for them to do that too. Sorry .
          I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

          06/01/06 - Filed Ch 13
          06/28/06 - 341 Meeting
          07/18/06 - Confirmation Hearing - not confirmed, 3 objections
          10/05/06 - Hearing to resolve 2 trustee objections
          01/24/07 - Judge dismisses mortgage company objection
          09/27/07 - Confirmed at last!
          06/10/11 - Trustee confirms all payments made
          08/10/11 - DISCHARGED !
          10/02/11 - CASE CLOSED
          Countdown: 60 months paid, 0 months to go

          Comment

            #6
            Originally posted by lrprn
            So even though you don't list a $0 card on your creditor list, they can still find out and may cancel your card anyway. It's perfectly legal for them to do that too. Sorry .
            It's all good. Started out with zero credit, and I'll end this process with zero credit.
            09/13/06: -- C13 filed with Courts
            12/04/06: -- Plan confirmed!
            Payments left: -- 38

            Comment

              #7
              I'm just being anal about the whole thing. I have closed accounts with zero balances and one small chargeoff, but I listed them anyway so that I never have to deal with zombie debt collectors.
              *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

              My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

              Comment

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