List Chapter 7 With Examples

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US-BKR-F4
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Description

The B4B Form, officially titled List of Creditors Holding 20 Largest Unsecured Claims, is a crucial document used in chapter 11 or chapter 9 bankruptcy cases. It is prepared under Fed. R. Bankr. P. 1007(d) and requires the debtor to list their 20 largest unsecured creditors. Key features include identifying the creditor's name and complete mailing address, along with the contact details of an employee or agent familiar with the claim. The form also necessitates the nature of the claim and whether it is contingent, unliquidated, disputed, or subject to setoff. Notably, the list cannot include insiders or secured creditors unless their unsecured claim qualifies them for inclusion. Users must also handle instances where a minor child is a creditor carefully by disclosing only initials and providing a guardian's details. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are assisting clients through bankruptcy proceedings, ensuring that all potential claims are accurately documented for the court. Proper filling and editing ensure compliance with legal standards, preventing delays in the bankruptcy process.

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

You should not spend any money or dispose of any assets you own when you file your Chapter 7 bankruptcy case. Without court approval, the Chapter 7 Trustee can force the recipient to return the money or property. However, the income you receive after filing your case is yours to use.

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).

Examples of nonexempt assets that can be subject to liquidation: Additional home or residential property that is not your primary residence. Investments that are not part of your retirement accounts. An expensive vehicle(s) not covered by bankruptcy exemptions.

Examples of nonexempt assets that can be subject to liquidation: Additional home or residential property that is not your primary residence. Investments that are not part of your retirement accounts. An expensive vehicle(s) not covered by bankruptcy exemptions.

A Chapter 7 bankruptcy is also called a liquidation bankruptcy because you have to sell nonexempt possessions and use the proceeds to repay your creditors. You do get to keep exempt assets and possessions, up to a limit. Once the process is complete, the remainder of your included debts is discharged.

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List Chapter 7 With Examples