Creditors Chapter 13 Within

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US-BKR-F4
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Description

The B4B form, also known as the List of Creditors Holding 20 Largest Unsecured Claims, serves as a critical document in Chapter 13 bankruptcy proceedings. This form lists the top 20 unsecured creditors of a debtor, in compliance with federal bankruptcy rules. It must exclude certain parties defined as 'insiders' and secured creditors unless their claims meet specific thresholds. Users need to provide the name, contact information, nature of the claim, and the status of the claim (e.g., contingent or disputed). It is essential to handle sensitive information, such as minors' names, appropriately by using initials and guardian information. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in bankruptcy cases, as it guides the administration of creditor claims and aids in the formulation of repayment plans. Proper execution and adherence to filing instructions can significantly impact the bankruptcy process, making it vital for legal professionals to understand the nuances of this document.

How to fill out List Of Creditors Holding 20 Largest Secured Claims - Not Needed For Chapter 7 Or 13 - Form 4 - Post 2005?

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FAQ

The discharge releases the debtor from all debts provided for by the plan or disallowed (under section 502), with limited exceptions. Creditors provided for in full or in part under the chapter 13 plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations.

Unlike chapter 7, creditors do not have standing to object to the discharge of a chapter 12 or chapter 13 debtor. Creditors can object to confirmation of the repayment plan, but cannot object to the discharge if the debtor has completed making plan payments.

If you accidentally forget to add an unsecured creditor's name to the list, not much of consequence happens in this particular case. As is the case with no asset bankruptcy, unsecured creditors, listed or not, get nothing in such cases. The debt gets discharged with creditor having no claim to collect.

You can prepare a List of Creditors by creating one using a computer and word?processing software. After completing the List of Creditors, you then submit the List of Creditors to the Court as a . txt file on electronic media (such as a CD, DVD, or flash / thumb drive).

If a creditor objects to your repayment plan, you will have an opportunity to respond to the objection. If you are able to overcome the objection, then your repayment plan will be approved, and you can proceed with your bankruptcy case.

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Creditors Chapter 13 Within