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creditors list

If I file bankruptcy does it mean I am acknowledging the list of my creditors and debt owed? What if I do not agree to one creditor’s claim and want to fight this creditor. Should I exclude or include their amount claim, since it was the largest debt I have against me and prompted my bankruptcy decision?

Posted from: Ontario

One Response to “creditors list”

A licensed trustee said...

You are required to disclose anyone that you think you owe a monetary debt to. You are also required to provide your trustee with a list of any/all legal actions that you are aware of. The list is used to notify people that you have filed for bankruptcy – they then have to prove to your trustee’s satisfaction that you actually owe them money.

So, you are not acknowledging a debt simply by putting it on the list – it is up to your trustee to determine if a debt is valid or not.