Timing is really not an issue from a creditor perspective. The most they would be eligible to receive would be the equivalent to the amount of monies distributed through the bankruptcy itself. As a result, if a creditor tried to not submit a claim until discharge they still wouldn’t have gained anything because technically the debtor would only be responsible to provide the same recovery to the creditor that they would have been eligible for in the bankruptcy.
For a more detailed description of how and why this happens you are best to contact a licensed trustee directly.
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1 Comments:
At 1:49 PM,
Barton Goth, GCO Inc. Bankruptcy Trustees said…
For a more detailed description of how and why this happens you are best to contact a licensed trustee directly.
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