Legal Question in Bankruptcy in New York

Re: Ancient debts in Chapter 13

A debtor filing a bankruptcy case is required to list all of his/her debts in the schedules to the bankruptcy petition. If the creditor's claim is subject to dispute there is a space on the schedules to indicate that. Since the active advent of debt buying, debtors often find themselves being pursued for stale debt (this has recently been receiving media coverage described as so called �zombie debt�). For this reason it would be prudent for a debtor to schedule debts as to which the statute of limitations has expired.

The foregoing is intended as general information of interest to readers of this site and is not intended as legal advice for your specific situation. Facts and circumstances not disclosed in your brief posting may materially affect your rights. You should consult with a competent bankruptcy attorney.

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