unlisted creditor

If I do not list a creditor when doing a proposal in bankruptcy can they collect after the proposal?

One Response to “unlisted creditor”

Barton Goth GCO Bankruptcy Trustees said...

Firstly, you have an obligation to list all your creditors and failure to do so with the intent to prefer one creditor over another is a bankrutpcy offense that can prevent you from being eligible from discharge.

However, we rarely see anything like ths done intentionally. If it has been accidential and really isn’t a major creditor, they can collect after the proposal is finished but likely you would be better off to simply list the creditor and they may accept the settlemnt.

You should discuss this with your trustee so that he can examine the specific situation and suggest how would be the best way to handle this.