Legal Question in Bankruptcy in Virginia
creditors not filing claim
what happens when most all my creditors do� not file claim in my chapt. 13.will my plan payment stay the same even thou i do not have creditors to pay. will those creditors be given any money althou they didn't file claim.
Asked on 9/22/08, 2:38 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: creditors not filing claim
Non-filing creditors are not paid. Assuming they are unsecured, they will simply be discharged at the end of the case, assuming they were given notice. In the usual plan, the failure of some creditors to file claims may result in other creditors getting more, and it may shorten your plan term and/or entitle you to move to modify your plan to lower the payments if the result is 100% payments to the filing creditors.
Answered on 9/22/08, 2:52 pm
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