Creditors not filing a claim

Anonymous · ‎03-20-2019

Hello My Fico members, just completed 5 months of a 60 month Chapter 13 Bankruptcy. On a $90,000 plan which includes attorney fees and trustee fees. Obviously the timeframe for creditors to file a claim has expired. After reviewing my NDC account I noticed that about $30,000 worth of credit card debt went unclaimed by the creditors. Has anyone had the same happen to them and do I still have to pay the total $90,000 plan?

Lurker22 · ‎03-21-2019

Yep - my attorney told me when I filed 13 not to count on it but it does happen and in my case (non-100% plan) it wouldn't make a difference, would only mean other creditors would receive more $$ (it you're on a 100% repayment plan then yes your total plan would be reduced, if you were like me, a non-100% repayment plan, then no - it wouldn't change the amount you had to pay, only the amounts received by the creditors who did file a claim)

In my case Chase did fail to file a claim for the 3 credit cards I burned them on, this had me really worried as they were my bank too (I briefly switched but realized Chase didn't case about my non-credit card accounts so I switched back) ....what's interesting is within the past 2 weeks I received a few letters from Chase Card Services saying they've credit the interest charged to my account back to my account and to call them with any questions - I started to call but eh, doesn't matter they didn't file a claim but I am curious why it took them so long to do whatever they're doing with those accounts (I filed 11/17)

BigTexMex · ‎03-21-2019

Thank you for your reply, I am on a non-100% repayment plan, and remember my attorney saying something to that effect. I just thought with that much money going unclaimed the duration of plan might somehow be shortened......oh well. Onward with this long journey ahead. Thanks again

arbonnetraverse · ‎03-21-2019

If your plan was to pay $90,000 and your 60 payments total $90,000, and your claims only total $60,000, then no, you do not pay the $90K. Another person can chime in with the details as to how it works with regard to plan length etc. but you don't pay claims that weren't filed.

Hope that helps!

Lurker22 · ‎03-22-2019

@arbonnetraverse wrote:
If your plan was to pay $90,000 and your 60 payments total $90,000, and your claims only total $60,000, then no, you do not pay the $90K. Another person can chime in with the details as to how it works with regard to plan length etc. but you don't pay claims that weren't filed.

Hope that helps!

OP isn't on a 100% repayment plan, assuming the total owed (not the plan amount) minus the claims that weren't filed still result in the plan not being a 100% plan then the plan shouldn't change