Creditor
list, do you know what it is?
First
off, lets’ talk about what a creditor is. A creditor is someone that you owe
money too. A creditor list is simply a list of all those creditors you owe and
their mailing addresses. A creditor list will sometimes also be referenced as
creditor mailing matrix, creditor matrix, or list of creditors. When you file a
bankruptcy it is your responsibility to make sure you list all of your
creditors and their correct mailing address. This is because the Bankruptcy
Court relies on your creditor list to send out all the notices regarding your
case to those creditors. For example a notice the creditors will get is the
meeting of creditors, also known as a 341 Hearing.
If
you fail to list a debt in your bankruptcy, it will not be discharge. Now if
you do list the debts on your bankruptcy and incorrectly identify the creditor
on your mailing list, that creditor might have grounds to object your
discharge, due to their lack of notice on your bankruptcy.
Another
big important situations to remember, is if a creditor does not receive notice
of your bankruptcy they may continue to garnish your wages and/or collect on
your debts.
Even
if you do manage to make sure everything is correct on your creditor matrix you
still have to file with the court. Now I, myself cannot give you a step by step
directions on how to file with the court. This is because each bankruptcy court
has its own rules and procedures on how a creditor matrix is properly prepared
and filed. You need to follow the court’s specific formatting instructions when
preparing the creditor matrix. This is to ensure your bankruptcy will be
processed properly.
Remember
if you fail to prepare or file your creditor matrix it could cause delays in
your bankruptcy.
