How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Bankruptcy Law question
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

Amount of Claim

When a person is filing Bankruptcy there are a lot of forms that must be filled out. A person must list all their creditors and the amount that they owe, in order for these debts to be discharges during the Bankruptcy. On these forms there are sections for the amount of claim to be stated. But what is the amount of claim? What does a person put as the amount of claim? These and other questions regarding amount of claim are answered below by the Experts.

When filling out a Section D on a Chapter 7 Bankruptcy what is the amount of claim?

The amount of claim for Section D on a Chapter 7 Bankruptcy is the amount that is owed. For example if a person has a mortgage the amount of claim would mean the amount of the mortgage regardless of the home’s value. A mortgage that was $120,000, this would be the amount of the claim and the difference between the amount of claim and the home’s actual value would be the unsecured portion.

When filing Chapter 7 Bankruptcy is the collection agency listed or just the original amount of claim?

When an individual is filing for Chapter 7 Bankruptcy they should then only list the original amount of claim and the original creditor. If a collection agency is involved they may be listed as on notice only. There is no need to relist the amount.

When a person is filling out a Schedule E for child support what goes in the amount of claim section, the priority amount section, etc?

When a person is filling out a Schedule E for their child support they should list the amount of their past due child support in the Amount Entitled to Priority along with the amount of claim. Under the heading of amount not entitled to priority there would nothing listed for the back child support. If a person does not owe any back child support then they should have the amount of their child support payment indicated in their budget.

If a person is filling out a Schedule E for Chapter 7 Bankruptcy and their ex- spouse owes them back child support, do they put the amount owed to them as the amount of claim?

If a person is filling out a Schedule E for Chapter 7 bankruptcy and their ex-spouse owes them back child support they do not need to put the amount that the ex-spouse is in arrears as the amount of claim. The Schedule E is for creditors and the amount of claim is the money that is owed to those creditors. Since the ex-spouse owes the individual the back child support, they are not creditors. The proper place for the amount that is owed to the individual by the ex-spouse is on line 17 of Schedule B.

If a person sells their house in a short sale, do they need to put the difference as the amount of claim on the Schedule F?

If a person sells their house in a short sale, they would need to put the difference in as the amount of claim on the Schedule F. If an the mortgage company accepted the amount received in the short sale, it is wise to list at least $100 for the amount of claim as a contingent debt to avoid any future claims.

The amount of claim is the amount that is owed to the creditor by the debtor. An individual will have to fill the appropriate forms and put the correct amounts in the sections marked amount of claim, so that the correct amount is discharged during the bankruptcy. When a person has a question regarding what the amount of claim is they should ask an Expert.
Ask a Bankruptcy Law question
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21108
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21108
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18362
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8471
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3824
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3383
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3289
    DVM, Emergency Veterinarian, BS (Physiology)