I have a 3-part question!

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Turbine

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Post by Turbine » Mon Sep 13, 2010 9:49 pm
I have a 3-part question!
1. If a creditor is named in the debtors' Statement of Affairs, but does not make a formal claim, do they still get paid?
2. If not, is the dividend then shared out among those creditors who have made a formal claim?
3. If the amount is shared out amongst the others, what effect does this have (if any) on the minimum amount the debtor needs to pay back?
 
 

kallis3

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Post by kallis3 » Mon Sep 13, 2010 9:53 pm
Hi and welcome.

If a creditor does not make a claim then the other creditors will get a bigger slice of the pie.

It does not make any difference to the amount you have to pay back.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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