A bankrupt company’s assets were sold for ,000. Legal costs of bankruptcy and other preferred claims were ,000. Creditors’ claims totaled ,000.

What percent of the creditors’ claims can the trustees pay?

A bankrupt company’s assets were sold for ,000. Legal costs of bankruptcy and other preferred claims were ,000. Creditors’ claims totaled ,000.

How many cents on the dollar will each creditor receive?

A bankrupt company’s assets were sold for ,000. Legal costs of bankruptcy and other preferred claims were ,000. Creditors’ claims totaled ,000.

If a creditor has a claim of ,500, how much will he or she receive?

I just need an explanation of how to find these I know that the chapter 13 bankruptcy stays on your credit for 7-10 years. But, how do you figure who gets what percent of what?

I bought my home in 2006 and put down $ 100k, yes its 20% down for a $ 500k house. I have put in another $ 50k in upgrades and remodel. Fast forward to 2009, laid off, no income I resort to using my credit card to pay my mortgage while my house was being listed by my realtor. 6 months went by, then a year, the house remained unsold. I’m up to my limit in credit card debt, thinking to sell the house for $ 350k, which will give me approx. $ 50k to pay my credit cards. Year and a half later, house is in foreclosure; credit card at max limit. No job, no car (sold it to pay credit card debt), ..and now living like a deadbeat.

Credit card companies still call and say "hello". Same story told to them over and over, no income, no job, no money etc. They "understand". Then they sell the debt to collection agency, same thing again. I told them my story..and they don’t care. "When are you gona pay?" I say with what? I can sell my t-shirt and underwear, but that might be worth 25 cents. What good will it do? So now, they are suing me in court. Went there and told the same story…judgment for the plaintiff. Okay, now they want to garnish my wage…but I don’t got no job. They want to freeze my bank acct…I have none. They want to..probably kick my ass..that they can definitely do..but that would hurt them, because if I get hurt and sue, they probably owe me money.

So here is my dilema, should I file Bankruptcy ..as there are other creditor waiting in line to sue me. Or should I go to court and and plea guilty but have no way to pay?

Yeah, I know..I’m a deadbeat, but I don’t blame my misfortune on no one except myself. Lost my life savings and people are laughing at me. What a cruel world this is. To file BK or not to file BK? If I do, I will have a fresh start says a friend. If I don’t, my friend says that the creditors will put my balance on my credit report, and renew it every 7 years…meaning that I can call the credit reporting agency to remove it, but they have a right and probably will repost my balance…as nothing had been collected. Is this true? I thought a negative item must be removed after 7 years, but it could be put back in and stay for another 7 years?? Please help. Thanks in advance.

I read online:
QUOTE: "Actually, you can force Equifax, Experian and TransUnion to remove a Charge-Off from your credit report legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the Bankruptcies, Foreclosures, Default Judgments, Tax Liens, Repos, Charge-Offs, collections etc. in their files if they are going to report the negative item on your report.
The dirty little secret the credit bureaus don’t want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The original creditor may have this information on file but the credit bureaus don’t. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
All negatives no matter how bad, how many or how recent … they all can be removed legally."
>> http://wiki.answers.com/Q/How_do_you_get_charge_off_your_credit_report <<

1. IS THIS TRUE? > any References?
2. What law is this??
3. How do you ask the bureaus for "verifiable proof"… send a certified letter to them?

My brother, 47, is going to see a lawyer about bankruptcy, chapter 13. Four years ago he went chapter 7. He has money problems. He is on his own. He lives in a different state, Minn, and has an 8 year old son that he has over every other week. He pays child support of 0 weekly. He tries to be a good dad to his troubled son. He works in printing at a plant in St. Paul with a rotating shift, and works hard earning /hr. He lives alone and pays 0 for rent. He lost his new car to the repo man, isn’t very good with his money and accrued ,000 in debts. He is being sued by a creditor whom he owes ,000. They offered to settle for ,000 with two payments of 0. He is paying off ,000 in back taxes at /month. He is thinking of filing for chapter 13 to pay off these debts and get back on his feet. He wants to get a part time job, but the odd rotating shift makes it hard for him to do so. He doesn’t have any support system, so what should he do?

My HOA’s Attorney raked up excessive unjustified fees on me for their own personal gain. I was late paying my HOA fees initially and willing paid the stated late fees along with my HOA dues. However, the Attorney collecting these fees does not accept credit card payments over the phone or online, etc. Therefore, I mailed the amount owed. To my surprise, I later received another letter indicating I owed another 0 for late fees. I ignored this notice b/c I thought that they probably didn’t input my payment in their system prior to the letter going out. So I received another letter stating I owed the 0 plus additional fees, and so on. Basically, each time I paid the stated late fees via mail, the Attorney claimed my payment didn’t arrive on time to their Office, and therefore I owed additional late fees.

In addition, all of my payments were applied towards Attorney late fees rather than my HOA dues. My dues were only 0 per year, but within that year I paid over 0 in additional fees that were never applied towards the full amount owed to my HOA. The Attorney continued to take their money off the top and say that I still owed a balance towards my HOA dues. As a result, I stopped paying b/c I felt I was being ripped off and the fees continued to increase. They ended up suing me for the amount they claimed I owed along with more Attorney fees and court cost.

Since I mistakenly missed the initial court date, when I showed up for the second court date where they filed a judgment against me, they won simply b/c I missed the initial court date. Now they are garnishing my bank account for the amount owed from the judgment.

Currently, I’m unemployed and my home is in foreclosure. I recently filed chapter 7 bankruptcy to stop the sale of my home so I can have time to secure a job and work out a modification on my home loan and get it out of foreclosure. I have not had the meeting of creditor’s as of yet. Can I discharge the past due HOA fees from the judgment/garnishment? I am willing to pay the past due HOA fees I accumulated after the garnishment since I intend on keeping my property. Also, I live in Georgia. Thanks for your answers.

My husband and I filed for bankruptcy chapter 13 back in 2006. We had to file bankruptcy because of my husband had a period of time of unemployment and was unable to pay his bills. One of the creditors that is listed on our bankruptcy petition has been harassing my husband at work saying that we opened a new account back in 2007. Number one, we wouldn’t qualify for any credit cards because of the bankruptcy. Yesterday, a collection company that says that they represent the creditor said that they were going to repossess our car to satisfy the balance of the bill. They can’t repossess a car that is owned by a bank. We are paying on a loan and the bank holds the title. I called the collection agency and told them to stop harassing my husband at work. The agent called me a liar, thief and a crook for not paying back the money. I told him to send proof of a claim of debt. He said he was going to subpoena us and sue us in court. He became mean and belittled me further. I hung up. He somehow managed to trace our unlisted home phone number and called me back 5 times in 10 minutes. I then called my attorney. She called him back and had our Trustee call him also. We are under a automatic stay and a protection order from creditors. According to the courts, we are not to receive any type of correspondence or calls while under bankruptcy protection. This man could be arrested for harassment. My question is if someone on the street were to come up to someone they don’t know and start calling them a criminal, liar. Wouldn’t they go to jail? What gives these "collection agents" the right to harass people?
I think that they all belong in the big house. Not with white collar offenders but hard core offenders. Am I right? Thanks. I’m still feeling unsettled over the whole situation and had to in the end change my phone number. I’m an honest person who is paying their bills on time. Thanks.
We are paying back the creditors we owe money through the bankruptcy court every month. We are disputing the new debt that this collection agency is trying to collect. We haven’t had any credit cards since 2005. Plus, I had a credit rating of over 700 before I got married. I qualified for a home loan on my own before my marriage. I am not a dead beat. My husband was living off credit cards for over 2 years while he was unemployed. The debt was his not mine.

I file for bankruptcy and I have the meeting on the 17th. I DON’T have an attorney.And I forgot to add a creditor on the file.

Please, I need to know exactly what is the form I have to print out and fill out to bring to the court in Fort Lauderdale, Florida. I know I have to pay a fee of . But I still don’t know what form I have to fill out and where to get it. Thank you for your help.

I just got divorced and I have two questions for people with bankruptcy experience. Our divorce was by agreement (through lawyers) so we never got to see the judge. The debt declared by both of us was split in half. Basically, I pay these collection companies and you pay these collection companies type of deal. Now I’m ready to file for bankruptcy and have the following questions:

1. My ex-wife didn’t declare all her debts in the divorce papers. I recently found that out on my own. She is a very dishonest person and had a secret life during our marriage. I guess she didn’t disclose everything on the papers as she was afraid she could lose custody of our child when all the nasty details of the affair, hotel payments, etc. came afloat. Without getting into "you can sue her" for lying on the papers or "contact an attorney", how can I find out all her debt so I can get it discharged? She won’t tell me about it. I have my 3 year old daughter’s social security (for medical debt inquiries, etc.) and I know my ex’s too (using hers for debt inquiries could be illegal I think). My initial thought was to start calling collection companies around, Sears, Check into cash, Banks, Walmart (she did some nasty s. once and Walmart was sending "you owe me money" letters, etc. ) with her social security but that’s illegal I think. How can I find out all her debt? I don’t want any surprises after I file for bankruptcy. I appreciate it if you don’t give me "Ask a bankruptcy lawyer" type of answers. I just need some answers now from people that might have gone thru this or have experience dealing with bankruptcy matters.

2. We were separated for almost 2 years before the divorce. I kicked her out of the house so it wasn’t legal separation. In the creditor’s eyes, is the NEW debt she incurred after our separation but before our divorce considered my debt too?

3. In the eyes of the creditors, is the debt she incurred during our marriage, SOLELY IN HER NAME (her credit card, some loans she received, etc.), considered my debt too? Obviously she had a secret life and I didn’t sign most of her agreements. I didn’t have any clue about her dealings.

4. As I said before, the declared debt was split in half on the divorce papers. I’m filling for bankruptcy now to discharge my part of the debt. Could my ex-wife have any legal grounds to go after me for not paying my part of the debt as there is no doubt the creditors will go after her? By filling for bankruptcy, to most rational people it would mean taking care of my debt. I could be wrong.

5. Divorce question. Am I divorced? It’s been 6 months already and I haven’t heard from the courts? Is our lawyers sending the divorce agreement papers to the courts considered being "DIVORCED" or do I have to wait for some certification of divorce from the judge? I was supposed to go for a final "optional" appointment with the lawyer to get answers to my questions but I just dropped the whole thing (too much $$$$$$$$$$$$$)!!!!!

The more answers the better. Thanks guys!
Sorry, the state is Oregon. Please no "Call attorney" answers. Just answer if you know the answers to my questions. Thanks.

I have received a letter from my attorney saying

Hearing on Motion for Default Judgment

Your hearing on the Motion for Default Judgment has been scheduled for January 5, 2011 at 11:00am, regarding your chapter 13 bankruptcy case.

And then my attorney goes on to say to contact him 2 days before the hearing to see if it is necessary for me to attend the hearing.

This is from my attorney not a creditor or the bankruptcy court. It seems to me that my attorney set the hearing up for the default judgment against the creditors. I’m not sure on how all this stuff works. The last time I talked with my attorney he said things look promising for me and then I get this letter.

I would have called his office but I did not get the letter till this afternoon and they will be closed Tomorrow.

I have been following all my attorneys advice and I just need to know if I should be concerned about this letter he sent me.

I live in Georgia if that helps. Any help will be greatly appreciated.

I was served yesterday legal papers that I’m being sued for less than ,000.00 by my creditor, first I’m unemployed, I looked up online and found a lawyer that charges 50 for filing bankruptcy, I need to know the best option and plus I don’t have any money! they only thing I own is my car which is been paid off, I know it sounds like a radical question but how are they thinking of getting paid by me when I don’t have any assets? are they trying to take away my only property which is my car? and plus I can borrow money from my mom( I’ve been living with her)(her salary is approx: ,000 annually)(since I’ve looked over the fact that they see if you’re living with someone they might take them responsible as well!)(so she can’t be because we’re already below the minimum salary rate) anyways my radical question is should I even get bother by it? I mean they can’t get anything off of me! I’m flat BROKE! my bank account is even overdrawn by thousands! and since if you’re answer is yes<< (you are being sued so start the PANIC ALARM) which is best? and do attorneys from nonprofit organizations do the same work as an attorney who gets paid some 00 ? (I mean if it’s him charging me because he will go to court and file my papers and stuff..)(hearing meeting is %100 me<< so I’m wondering to go cheap with it to prove to the court that I AM BROKE for real! or borrow money and pay the lawyer! which is best?
Thanks:)

I filed a Chapter 7 in June 2007, with intent to reaffirm 2 both vehicles. After the discharge came back on August 20, the creditor has billed me for one and contacted me regarding it, and I’ve made it current. The second, they’ve never billed and when I’ve contacted then today, October 29, they told me that that account is showing as part of the discharged bankruptcy, and not as being reaffirmed. My question is, what does that mean as far as that vehicle is concerned. Has it been written off, as it was never contested by the creditor? There was never a billing sent for it, a call made about it, or the ability to make a payment through them online for it (unlike the first vehicle).

I have heard that creating a living trust might not protect me nor my assetts, particularly if I’m a beneficiary to trust designee, and the one that created the trust. I have 2 kids that I could gift the cash to. Can a lender/creditor come after my kids assetts since they are minors and I’m the custodian of their bank accounts until age 18? I’d really like to find a way to shelter and protect my cash savings (about ,000) that I have worked all my life for, rather then letting a crappy housing market wipe me out in a span of 2 years. I live in Arizona by the way- if that helps. I have never filed bankruptcy, and I always pay my bills, but if i had to foreclose I do NOT want to lose my last and only means of getting myself back on my feet. I fought so hard for so many years to save. Thank you for any advice.
Thank you all for the great advice. I should elaborate as many are thinking "What’s the problem since i have K in cash?". I bought in Jan 2006, & opted for an IO loan for 5 yrs to keep my payment low & save cash to complete a divorce settlement, get a new car, and get my life back on track. I got a really cheap used car with 100K miles & settled the divorce favorably. Since then, my home value slid downward over k. To refinance & return to 100% loan-to-value, it would eat all my savings; & that’s only if someone would lend to me. In hindsight, it was a bad move to buy. I should have probably invested the cash up front to get a fixed loan. Now I’m afraid with all the talk that values will slide another 12%. I dont think I can recover a 30% loss within next 3 years. Thus, when my loan resets, I’ll be upside down & unable to afford the new payment, & Foreclosure would be an option on the table. I just want to protect what is left if I can. Thanks again – Great ideas you all have.

I had one coteacher tell me to show them I am boss, aka that I won’t allow them to walk on me, and another teacher said to threaten to report them. So I just tried both methods with Chase and got no where.

Long story short somehow our mailbox was opened and I never received a bill for last month. So I went online at work to check on it, and paid it, although unfortunately it was late. Now they are charging me double (which is fine) and a late fee. I have never been late with them and they refuse to rid of my late fee, even when I told them I won’t be able to pay it, and they won’t get their money.

Are there any good strategies and/or tips for any creditor on ways to reduce my APR or even the debt I owe them?

I never get anywhere when I call anyone and this is so frustrating because I primarily used my cards for dental and school, and some medical. I can’t pay them and I don’t want to do bankruptcy. I am so FRUSTRATED!

I have a few questions about credit reports and how to handle certain blemishes.

The first situation is that I have two collection accounts with a combined total of 2. One is from 07 and the other from 08. Should I go ahead and pay these off? Should I send a debt validation letter? Or should I just ignore them? My husband and I would like to purchase a home next summer and I want my credit score up as much as possible, but I have heard that paying off the debts can actually hurt your credit because the "date reported" date changes to a a current date. Is this true?

The second situation is what I believe to be a duplicate account listed on both mine and my husband’s credit report. It is from an account that was included in our Chapter 13 bankruptcy. There is a listing from the original creditor and then a seperate listing for what I assume is a collection agency called MBC INV for the same amount that was first reported 9/30/09 – two month before our bankruptcy was discharged. Is this legal? To send an account that is included in a bankruptcy to a collection agency? Can I get rid of this account?

Thanks in advance!

was reading that any potion of the plan payments that you sent to the trustee that was not distributed to the creditors by the trustee would be returned to you after the discharge under Chapter 7. Is this correct? Remember, this is a conversion from chapter 13 to ch 7.

When I go to my account overview…..out of 00, only 1000 has been distributed to one of my creditors…the other monies have not been distributed in the past 6months, anyone know why? If I am converting to chapter 7 if the money still has not been distributed to the last creditor, does this money get returned to me?

I have a Civil Court judgment in Michigan against me from a Credit Card Company. I am on Social Security / Disability, and I know they are not allowed to garnish that form of income. I have taken out what little I had in my bank account. I live in an apartment, I do not have any "assets" to speak of. I have a car that is not worth any more than the loan I am paying on for it. I have been threatened that a Sheriff is going to come into my home and take all my belongings and sell them to satisfy the debt. Just exactly how far are they allowed to go when I don’t own anything of value anyway? Do they literally break down my door and take all my stuff? That’s what I have been threatened with by the attorneys for the creditor. I am probably looking at a few more Credit Card companies suing me in the near future. If there are several judgments against me is the Court more aggressive about collecting?

Also, I just received the official Judgment in the mail. What comes next? I have read online that there is another hearing to determine my ability to pay. Is that true – should I be expecting another Court notice for a hearing such as that, or do they just automatically go to Collection procedures after the Judgment?

Yes I have considered Bankruptcy, but do not even have the money for that right now.

There is no need for commentary such as "pay your bills & you wouldn’t be in this trouble, blah, blah". I am in the position I am in, period, and I do not have the income or means to pay right now. No, not even .00 a month. Thank you.
Thank you for your quick and supportive answers thus far! Now I don’t feel so scared.

Study: Bankruptcy Rates Reflect Policy, Not People

http://byunews.byu.edu/archive09-Jun-bankruptcy.aspx

What do high bankruptcy rates in states like Tennessee and Utah tell us about the people that live in those places? Not much, according to a new 50-state bankruptcy study published in the Journal of Law and Economics.

The study, by Brigham Young University economists Lars Lefgren and Frank McIntyre found state-to-state differences in bankruptcy rates are mostly explained by bankruptcy laws, differences in legal institutions, and broad demographic factors. “Our findings don’t say much at all about the people involved in bankruptcies,” said Lefgren. “In large part, we found that there are different state policies that affect how people respond to financial crises.”

Bankruptcy rates vary widely from state to state. Alaska traditionally has one of the country’s lowest filing rates—an average of one bankruptcy per 1000 individuals from 1999 through 2000. During that same period, the rate in Tennessee, the highest bankruptcy state, was nearly eight times higher. Texas had a rate of three per 1000, but right next door in Oklahoma, the number was double that.

Until now there had been very little research on why these numbers vary so much, according to Lefgren and McIntyre. “Press reports on this have often focused on people,” Lefgren says. “What makes the people in high bankruptcy states so different than people in low bankruptcy states? Are they just strange or especially flaky about their debts?”

Not so, the study found.

Lefgren and McIntyre’s analysis of bankruptcies in all 50 states from 1999 to 2000 found that the best predictor of a state’s filing rate is that state’s wage garnishment law. Some states have laws that make it more difficult for creditors to dip into a delinquent debtor’s paycheck. These states tend to have lower bankruptcy rates, the study found.

“If a state limits a creditor’s ability to garnish wages, it’s easier for the debtor to ignore the debt, creating an informal default rather than a bankruptcy.” Lefgren explains. “But when someone gets slapped with a garnishment, he may be more likely to declare bankruptcy to get out from under it. The result is a larger number of bankruptcies in states where it’s easier to garnish wages.”

Another factor that increases a state’s bankruptcy rate is the fraction of filings under Chapter 13 of the bankruptcy code rather than Chapter 7. Chapter 13 bankruptcies put filers on a payment plan designed to pay back at least a portion of their debts. Chapter 7, on the other hand, generally wipes out debt completely. In most Chapter 13 cases, the filers are unable to keep up with the payment plan, so the bankruptcy is dismissed. At that point, the debtor often files for bankruptcy again.

“So in states where people are pushed toward Chapter 13, we have families filing for bankruptcy multiple times,” Lefgren says. “People are being counted in the bankruptcy statistics multiple times for the same debts.”

So in reality, Lefgren says, the bankruptcy rate is not a terribly good indicator of default on debt. The amount of unpaid debt might be fairly similar from state to state, but in one state it goes on the books as a bankruptcy, while in another it remains an informal default. Meanwhile, in many states, bankruptcy rates are inflated by multiple Chapter 13 filings.

Taken together, garnishment laws and the fraction of Chapter 13 bankruptcies account for more than half of the state-to-state variation in filing rates.

While most state variation can be attributed to policy differences, the study did find several broad demographic factors that influence bankruptcy rates, such as age and income. Filing rates tend to be higher among those age 25 to 29, with household incomes between ,000 and ,000. States with larger concentrations of younger, middle class people tend to see higher bankruptcy rates.

Lefgren and McIntyre found that other factors, such as asset exemption rates, often touted to explain bankruptcy rates actually have little influence at all. States that allow filers to keep large proportions of their assets through bankruptcy don’t necessarily have higher bankruptcy rates, the study found.

Another factor that doesn’t seem to matter: the size of the public safety net. Generous welfare, housing assistance and unemployment compensation programs seem to do little to mitigate a state’s bankruptcy rates

Study: Bankruptcy Rates Reflect Policy, Not People

http://byunews.byu.edu/archive09-Jun-bankruptcy.aspx

What do high bankruptcy rates in states like Tennessee and Utah tell us about the people that live in those places? Not much, according to a new 50-state bankruptcy study published in the Journal of Law and Economics.

The study, by Brigham Young University economists Lars Lefgren and Frank McIntyre found state-to-state differences in bankruptcy rates are mostly explained by bankruptcy laws, differences in legal institutions, and broad demographic factors. “Our findings don’t say much at all about the people involved in bankruptcies,” said Lefgren. “In large part, we found that there are different state policies that affect how people respond to financial crises.”

Bankruptcy rates vary widely from state to state. Alaska traditionally has one of the country’s lowest filing rates—an average of one bankruptcy per 1000 individuals from 1999 through 2000. During that same period, the rate in Tennessee, the highest bankruptcy state, was nearly eight times higher. Texas had a rate of three per 1000, but right next door in Oklahoma, the number was double that.

Until now there had been very little research on why these numbers vary so much, according to Lefgren and McIntyre. “Press reports on this have often focused on people,” Lefgren says. “What makes the people in high bankruptcy states so different than people in low bankruptcy states? Are they just strange or especially flaky about their debts?”

Not so, the study found.

Lefgren and McIntyre’s analysis of bankruptcies in all 50 states from 1999 to 2000 found that the best predictor of a state’s filing rate is that state’s wage garnishment law. Some states have laws that make it more difficult for creditors to dip into a delinquent debtor’s paycheck. These states tend to have lower bankruptcy rates, the study found.

“If a state limits a creditor’s ability to garnish wages, it’s easier for the debtor to ignore the debt, creating an informal default rather than a bankruptcy.” Lefgren explains. “But when someone gets slapped with a garnishment, he may be more likely to declare bankruptcy to get out from under it. The result is a larger number of bankruptcies in states where it’s easier to garnish wages.”

Another factor that increases a state’s bankruptcy rate is the fraction of filings under Chapter 13 of the bankruptcy code rather than Chapter 7. Chapter 13 bankruptcies put filers on a payment plan designed to pay back at least a portion of their debts. Chapter 7, on the other hand, generally wipes out debt completely. In most Chapter 13 cases, the filers are unable to keep up with the payment plan, so the bankruptcy is dismissed. At that point, the debtor often files for bankruptcy again.

“So in states where people are pushed toward Chapter 13, we have families filing for bankruptcy multiple times,” Lefgren says. “People are being counted in the bankruptcy statistics multiple times for the same debts.”

So in reality, Lefgren says, the bankruptcy rate is not a terribly good indicator of default on debt. The amount of unpaid debt might be fairly similar from state to state, but in one state it goes on the books as a bankruptcy, while in another it remains an informal default. Meanwhile, in many states, bankruptcy rates are inflated by multiple Chapter 13 filings.

Taken together, garnishment laws and the fraction of Chapter 13 bankruptcies account for more than half of the state-to-state variation in filing rates.

While most state variation can be attributed to policy differences, the study did find several broad demographic factors that influence bankruptcy rates, such as age and income. Filing rates tend to be higher among those age 25 to 29, with household incomes between ,000 and ,000. States with larger concentrations of younger, middle class people tend to see higher bankruptcy rates.

Lefgren and McIntyre found that other factors, such as asset exemption rates, often touted to explain bankruptcy rates actually have little influence at all. States that allow filers to keep large proportions of their assets through bankruptcy don’t necessarily have higher bankruptcy rates, the study found.

Another factor that doesn’t seem to matter: the size of the public safety net. Generous welfare, housing assistance and unemployment compensation programs seem to do little to mitigate a state’s bankruptcy rates.

I was reading that any potion of the plan payments that you sent to the trustee that was not distributed to the creditors by the trustee would be returned to you after the discharge under Chapter 7. Is this correct? Remember, this is a conversion from chapter 13 to ch 7.

When I go to my account overview…..out of 00, only 1000 has been distributed to one of my creditors…the other monies have not been distributed in the past 6months, anyone know why? If I am converting to chapter 7 if the money still has not been distributed to the last creditor, does this money get returned to me?

I received a paper from the bankruptcy court. Could you please tell me the following phrase in easy word. I am an uninsured creditor on a chapter 13 bankruptcy.
Following—-
It is further ordered that general unsecured creditors will receive no less than ,000.00 total.
———————————–
Especially ‘ will receive no less than 00 total’ . What is that mean?