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contingent, unliquidated, disputed on schedules... what does it mean??

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WorryWort

Guest
What is the name of your state? TX

In the schedules for filing chap 7 bk, are columns titled contingent, unliquidated, disputed. My book doesn't go into details, but rather suggests I speak with the trustee about how to check each item in the rows.

I'd like to know more about these headings: what they mean, how one should use them, etc. I'd rather have the correct column checked before I get into my 341 meeting and feel like I'm guessing...or worse, have the trustee tell me he/she cannot help me!

Thanks for your feedback.
 


Ladynred

Senior Member
"Contingent - the claim depends on some event that hasn't yet occurred and may never occur. For example, if you cosigned on a secured loan, you won't be liable unless the principal debtor defaults. Your liability as a cosigner is contingent upon the default.

Unliquidated - This means the debt may exist, but the exact amount hasn't been determined.

Disputed - A claim is disputed if you and the creditor do not agree about the existence or amount of the debt. "

(From the Nolo Press book "How to File For Chapter 7 Bankruptcy")
 
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WorryWort

Guest
Thank you. I don't believe any of those apply in my case.

Thanks again!
 

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