Creditor list, What's that?

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.