consideration for claim?

[jamiedid]

The form asks date debt was incurred and consideration for claim?
What do they want to hear?? My debt is Medical and Tax related
are there any magic words?

What I really need to know is the definition of "consideration for claim"

[nailtech]

I'm only assuming your last post got closed because they do not help with filling out papers here... (just from what I have read)... I think I'ts only a matter of time this one gets close as well... just my guess... good luck... no offence here, but its a advice forum, not a help me fill out my papers forum**************

the experts might agree here...... we will know when they read it, if it was the reason or not.... JMO....

[jamiedid]

Thank you, but i think i closed the last thread.. didn't know what i was doing.. thanks anyway

"Consideration" is what you got in exchange for the individual debt you owe to that creditor.

Here are some examples: medical expenses, credit card debt, personal loan, legal expenses.

Make sense?

[jamiedid]

Yes! Thank you so much. I thought they wanted me to give 'em a reason to consider it for discharge..

You've been a big help.. Thanks again

jamie

The reason for the bankruptcy will be obvious in the numbers themselves -- your budget portion of the petition will show that your income is insufficient to pay both your living expenses and your debts.

The trustee may ask you, "What caused this bankruptcy?" Some do, some don't.

Then some also ask what steps you have taken to prevent another bankruptcy.

No one at your hearing will crucify you for your financial straits, however.