QUESTION
If a creditor doesn't show up in a credit report and the debt has passed the statute of limitations do I need to include that creditor during filing?
Asked on May 17th, 2013 on Bankruptcy - Florida
14 ANSWERS
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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Yes.
Answered on May 20th, 2013 at 9:36 PM
Debt Settlement Attorney serving San Diego, CA
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Law Offices of Kathryn Tokarska
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Yes. You are required to disclose all of your debts regardless if the debts are disputed or the creditors are no longer attempting to collect from you. If you know you owe someone money, you list it, even if it's a friend, family member, the IRS, it doesn't matter, list it. List ALL Assets & ALL Debts. You'll be sworn in at the 341 hearing and the Trustee at the 341 hearing will ask you "did you disclose all of your debts, assets & income in your petition?".
Answered on May 20th, 2013 at 8:07 PM
I would always include such a creditor in a client's bankruptcy petition. It does not cost any extra to include them, and you might be incorrect in you statute of limitations calculation.
Answered on May 17th, 2013 at 4:47 PM
Bankruptcy Attorney serving Buford, GA
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Kenneth A. Parker, PC
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I would. Even if the debt is passed the statute of limitations, Creditors sometimes sue on debts that are past the statute and listing them on your Bankruptcy Petition would prevent that from happening.
Answered on May 17th, 2013 at 4:46 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Absolutely. You will swear under oath that you listed 100% of all your debts and all your assets, no exception. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on May 17th, 2013 at 4:46 PM
I would include everyone I know about because I do not feel safe in relying on the memory of my clients.
Answered on May 17th, 2013 at 2:22 PM
If you have any question at all about whether a debt is collectible, it is always a good idea to list the creditor in your bankruptcy. It will not hurt you to list a debt that is no longer collectible, it's better to be safe than sorry.
Answered on May 17th, 2013 at 2:21 PM
General Practice Attorney serving Coeur d'Alene, ID
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Michael B. McFarland, PA
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Why not? It doesn't cost anything to list the creditor, and provides you with some "insurance" in case the debt was assigned to collection or sold.
Answered on May 17th, 2013 at 2:21 PM
Deborah F. Bowinski
Yes. You are required to disclose all debts that you owe as of the date your case is filed, there is no qualifier that says you only have to list the collectable ones. You will be signing documents under penalty of perjury. With that in mind, I would list everything I know of regardless of how old it might be.
Answered on May 17th, 2013 at 2:20 PM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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Just include everyone. Why would you risk not including them?
Answered on May 17th, 2013 at 2:19 PM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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Yes. You should list all debts. That is because, despite the statute of limitations, you cannot know if the creditor did certain things to prolong its ability to collect. They can record or renew a judgment, or record a lien on property. That is why all debts, no matter how old, need to be listed on a bankruptcy petition. Also, it is a great benefit to be sure that the debt is discharged in bankruptcy.
Answered on May 17th, 2013 at 2:18 PM
Complex Litigation Attorney serving Costa Mesa, CA
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Thomas Vogele & Associates, APC
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If you don't list the debt and it turns out you are mistaken about the statute of limitations issue, the debt is not automatically discharged. You should list all known debts in your petition for two reasons, to protect yourself post-discharge and because you are required to sign the petition under penalty of perjury.
Answered on May 17th, 2013 at 2:16 PM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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Erring on the side of caution, yes include them.
Answered on May 17th, 2013 at 2:15 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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Yes.
Answered on May 17th, 2013 at 2:14 PM