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Brent Blanchard
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
Satisfied Customers: 1975
Experience:  Twelve years experience in all aspects of debtor & creditor BK.
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For Schedule E Creditors Holding Unsecured Priority Claims ,

Resolved Question:

For Schedule E "Creditors Holding Unsecured Priority Claims", is this where I list all the accounts that I am behind on including Real Estate due to foreclosures, credit cards, etc.? Also, I hold pink slips to two cars, one fore myself, and one for my son. However, I am paying my stepsister money on them monthly. My credit was poor so I could not obtain loans for them. My stepsis stepped in and paid for them both. She then transferred the titles to my name so I could get better deals on car insurance. What should I do? Should I transfer the titles back to her or to another sister of mine? Or should I have my stepsis write a notarized letter claiming so? On what schedules do I include this info? Thank you very much.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Brent Blanchard replied 7 years ago.
Thank you for your question.

You are describing unsecured claims, but I don't see any of them being priority. Priority claims are almost always tax debts of some sort.

The "pink slips" on cars are quite different--sounds like those are really secured claims (car is collateral on a loan, right?).

Your proposed transfers are all "insider" transactions (with family members), subject to intense scrutiny by the BK Trustee. You had better be very careful and know what you're doing.

Credit cards will be unsecured nonpriority claims.

The types of debts you describe make me fear that you may be in over your head here. You can buy a license for a BK preparation software package used by attorneys for only $200.00 (it's really a license for up to 10 cases, but you can't prepare paperwork for others) at: I used this shortly after I started out. It's much better than a now-forgotten competitor which sold one at a time case preparation, and also marketed to individual filers.

The BK software's built-in instruction and definitions and help pages will help you with the dozen or more additional questions I suspect you should be asking--including some that you might not yet realize that you need to ask.

Thank you.

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