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All Encompassing Or Just The Stated Amounts ?

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GSInAZ

Guest
What is the name of your state? Arizona

I am a creditor in a BK. The amount stated in the Bankruptcy paperwork is less than what the person owes me by quite a bit. If they get the debt to me discharged is it for all debt to me or just the amount they have stated in the paperwork?

Thanks !
 


Ladynred

Senior Member
I'm not 100% sure on this, but here's what I *think* is correct, based on something I was told.

I had a 2nd mortgage that is now unsecured because the house was foreclosed on and sold. I was told that I should take the amount that I last had that they say I owed and calculate in enough months of interest, charges, fees, etc. to come as close to what the total WOULD be at the time I file, otherwise they could come after me for the difference once I got my discharge.

So.. based on that information, I'd say you can probably go after them for the difference after their discharge is granted.

Of course, should any of our lawyers here know for SURE that this is not true, I'm certain they'll step in with the right information. :cool:
 
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dorenephilpot

Guest
The failure of the debtor to list the exact amount owed does not mean that once the discharge is granted that the debtor owes the creditor the difference between what the debt was listed at and what the creditor says the debt it.

As long as you were given proper notice and the discharge is granted, that whole debt is discharged, even if the dollar amount listed is inaccurate.

Sorry to be the bearer of bad news here.
 

HomeGuru

Senior Member
GSInAZ said:
What is the name of your state? Arizona

I am a creditor in a BK. The amount stated in the Bankruptcy paperwork is less than what the person owes me by quite a bit. If they get the debt to me discharged is it for all debt to me or just the amount they have stated in the paperwork?

Thanks !

**A: I agree with dorene.
In many cases the petitioners include only the principal note amount of the debt not taking in consideration the interest, late fees etc.
If the creditor is unsecured, it would not matter if the amount due was $10K or $15K because there would be a discharge of whatever is due anyway.
 

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