How can I find out who and how much I owe for chapter 7?
I want to file chapter 7 but I'm not sure who I owe and how much.
6 attorney answers
You can get a free credit report to get your started. www.AnnualCreditReport.com. If you end up with a "no asset" case (meaning you lose no asset to the trustee), then any omitted creditors that have dischargeable claims are discharged.
Please remember to mark my answer as "helpful" or even the "best" if that is the case. My response is general information not intended as legal advice or to create an attorney-client relationship. Seek advice from a qualified attorney to see how the law fits your specific facts. I am licensed to practice law in Washington and Oregon. www. RRLawGroup.com
We run credit reports for our clients and the cost is $20 for a single person and $40 for a married couple. The advantage of the bankruptcy credit report is that it is electronic data, so we are able to import the credits and their proper addresses, account numbers, balances due, last payment made, arrears, etc., which really saves time for you as you will not have write out all of that information in your bankruptcy questionnaire. However, you should realize that credit reports may not contain all of your creditors (the people you owe money to).
Annualcreditreport.com You get one free credit report from Experian, Transunion and Equifax once a year.
Not all debts are reported on credit reports.
Consistent with common containment of creditor collection statements in circular files, descriptions of debts on bankruptcy Schedules D through F are often linked to credit reports and court records.
This answer (by San Diego bankruptcy attorney, Asaph Abrams) doesn’t address all facts & implications of the question; it’s general info, not legal advice to be relied upon and exceptions may apply. It creates no attorney-client relationship; it may be pertinent only to CA and/or its Southern District Bankruptcy Court in San Diego. It’s independent of other answers. It may be time sensitive, as in past the “Use by” date: laws and case law change. Hire a bankruptcy lawyer before acting or refraining from bankruptcy or other legal action.
In addition to the credit report that you or your attorney can access, you'll need to keep in mind some debts may not appear on your credit report. For instance, debts to smaller health care providers, (dentists, chiropractors, etc.), small businesses, and individuals will likely not appear, but should be included on your filing to make it as complete and accurate as possible. As you prepare for your bankruptcy, keep a file of your bills so that your attorney can cross reference against the credit report. Good luck to you.
I order credit reports for my clients. I also have them provide me with all billing statements they’ve received from creditors as occasionally some creditors do not report the debt to the three major credit bureaus; TranUnion, Equifax and Experian. Additionally I will check the courts for any judgments that have been entered.