What is the Amount of Claim?
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. Read below where Experts answer questions regarding the amount of claim for bankruptcy.
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 be the amount of the mortgage not the home’s value.
When filing Chapter 7 Bankruptcy is the collection agency listed or just the original amount of claim?
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?
The individual 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 be 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?
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. 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 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.