When filling out schedule F - Creditors holding unsecured Nonpriority claims form, I found out some of my debts had been sold to a collection agency. Do I list them as the creditor now instead of the credit card company?
Yes. But still list the original creditor as an additional notice recipient.
Just by asking this question, it appears you are attempting to represent yourself. Some people do, but it is a bit like being your own dentist--you can do it, but it will probably hurt a lot more. Before you do that, you should consider having a free consultation with an attorney. I have had people hire me because they filed on their own and needed help later. It is terrible to tell someone that they could have protected an asset if they had used an attorney, but because they did not plan properly the bankruptcy will cost them far more than the attorney would have.
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It does not really matter whether you list the original creditor on schedule f or list the collection agency or new owner of the debt on Schedule F, just make sure both are listed either on Schedule F or as an additional notice creditor. If you are filling out the forms by hand, I'd list both of them on schedule F. You are obviously trying to file your Ch7 by yourself. Please reconsider and hire an attorney to assist you. While it may seem that filing bk is just a matter of filling out forms, it really is much more than that and if you do not get it right it will cost you a lot more than an attorney's fee.
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I usually list both as creditors if the collection company owns the debt unless I am 100% sure as sometimes a collection agency does not own the debt. Or like has been previously stated you could list the cc as an additional notice recipient as they no longer own the debt.
Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. I am attaching a link to some free videos that explain how bankruptcy works. Most Arizona consumer bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Please take time to educate yourself about bankruptcy and to determine which attorney is the best to assist you in the process. Don’t assume the attorney is being completely honest about their experience and capabilities. Check them out. Avoid the attorneys who advertise on TV or profess a 100% success rate in their Internet ads. It costs hundreds or thousands of dollars for these ads and someone has to pay for them – the clients. These attorneys mass produce the work and do not offer the client the hands on assistance that is necessary in a well-planned bankruptcy. Normally these firms assign all or most of the work to paralegals and the client rarely talks to an attorney.
When interviewing the attorney ask them how long they have practiced bankruptcy law. Ask what percentage of their practice is focused on consumer work. Ask whether they are experienced in both chapter 7 and chapter 13 cases. Ask the attorney for references. Ask about their policy of returning phone calls. They should be committed to answering specific questions about your situation and help you understand your options. If, after talking with them you are still confused about the issues you raised, find another attorney. Check them out with the various ranking sources: such as www.AVVO.com, and the State Bar. An attorney is should be your guide through this process. They should educate you, be there to assist you in how to avoid pitfalls and help you plan for your future after bankruptcy. There are hundreds of “bankruptcy” attorneys in Arizona. Of those just a few will fit the criteria set forth above. Again, bankruptcy is a very complicated process and you want to use an attorney who will be there when you need them.
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Yes, list both of them. This prevents any potential collection actions in the future. There are times when the collection agency will send the debt back to the original creditor. If they don't have notice, they may continue to collect against you.
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If you live in Arizona, please contact me for actual advice; this is just speculation. It certainly is not legal advice. I don't have enough information to give actual legal advice. I can only take the limited information presented and provide a idea of what you might do and how it may turn out.