Legal Question in Bankruptcy in California
Original creditors
When I file for Chapter 7, I am listing original creditors are am I listing everyone the original creditors has sold debt to.
3 Answers from Attorneys
Re: Original creditors
You will be listing BOTH the original creditor and anyone else the debt has been passed to.
Better hurry though, time is running out...
Re: Original creditors
If the debt has been -sold- to someone, list the new creditor and, in the explanation box, write something like "originally Chase." If it's just been assigned for collection, there are two different ways to do it: list the original creditor on Schedule F, and in the next box, list the collector without an amount; or just list the original creditor on Schedule F and list the collector on the creditor matrix. If you want a lawyer to do it for you, please let me know.
Re: Original creditors
You should have both in the petition--can list the original creditor and amount, then in the next box, show who the debt has been sold/assigned to.