Creditor Frequently Asked Questions (FAQ's)
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- What do I have to do to get paid?
- You have to file a claim before the bar date. Additionally if you are an administrative, secured, or priority claimant you must be specifically mentioned in the plan. General unsecured claimants that file claims need not be individually mentioned in the plan and their treatment will fall under Section V of the local plan. If you do not agree with your treatment in the plan or, you are a claimant who is required to be mentioned in the plan and are not, you should consult an attorney to consider objecting to the plan in order to preserve your rights. Once confirmed, a plan becomes binding.
- When do I get paid?
- To be paid, you must file a claim with the Bankruptcy Court before the bar date. Assuming you have a validly filed claim, you will be paid pursuant to the plan. Read the plan to see how it intends to treat your type of claim. Most plans pay claims in the following order Administrative, Secured, Priority, General Unsecured. We typically disburse plan payments monthly on the last business day of the month. You may not be paid if the debtor has not made their plan payment as intended. Press 'Case Information' on the menu bar above to review current payment status.
- Where do I file my claim?
- Claims are filed with the bankruptcy court. They can be filed electronically or by paper. Your notice of bankruptcy should contain the instructions you need. Press HERE to link to the bankruptcy court forms page for more information. Use the Proof of Claim form in order to file a claim
- How often will I be paid?
- This depends primarily on the plan. Most plans are set to pay monthly. Assuming that you have filed a valid claim where the plan contemplates regular payments to you, you should expect those payments monthly. Depending on the plan, the amount of the payment may vary. If you have a valid unsecured claim, typically you will be paid near the end of the plan.
- Will I be paid the claim amount I filed or the amount shown in the plan?
- The rules and plan form effective December 1, 2017 indicate the plan directs not only how funds are paid but also for non-governmental secured claims, the amount paid. If your non-governmental secured claim is for more than the plan contemplates you should consult an attorney and consider objecting to the plan prior to its confirmation. Otherwise, the plan amount becomes binding and will control over the claim amount. If your claim is secured but is not mentioned as secured in the plan it will be paid as unsecured. As such it may not receive full payment. You may want to consider objecting to confirmation in this event. Generally speaking, secured and priority governmental claims will be paid the claim amount.
- Why are others being paid and not me?
- To be paid you have to file a claim. If you have filed a claim, the plan controls how payments are made. You should review the plan to determine when or if you will be paid. Most plans pay claims in the following order Administrative, Secured, Priority, General Unsecured.
- An objection was filed to our claim. What does that do?
- A successful objection can change the amount, type, or terms of a claim. Typically an objection will result in a claim being paid less than it was filed for. Please review the objection carefully. If you disagree with it, the notice of objection will give you a limited time to request a hearing. Please consult an attorney to protect your rights. The Trustee cannot help you with this.
- Why did my payments stop?
- Typically the reasons are the debtor did not pay as intended, there was a plan modification, a claim that ranks before yours was filed, or the plan is complete. Please press 'Case Information' on the menu bar above to review current plan, payment, and claim status. If the debtor is behind on their plan, we will pursue collection action and possibly dismissal.
- Can I get the stub of my check sorted differently?
- Yes, you can have the individuals on your check stub sorted by your Account number, Case number, or Last name. The default is last name. Please contact us if you would like to change it.
- Who do I notify about a possible fraudulent filing?
- Please Contact Us. Additionally the US Trustee should be notified. Press here to link to their fraud reporting site. In order to expedite the handling of complaints of criminal violations in the bankruptcy system, the United States Trustee requires that your complaint be submitted in a signed letter, bearing your return address and telephone number to:
Upon receipt, your complaint will be reviewed. If the information furnished establishes a reasonable belief that a criminal violation has occurred, the matter will be referred to the United States Attorney. If the United States Attorney deems the matter to hold prosecutorial merit, it will be referred to the appropriate law enforcement agency for investigation. A clearly written statement containing copies of any available documentation will expedite this process. Submit the following information:
- Office of the United States Trustee
- 780 Regent Street Suite 304
- Madison, WI 53715
- The bankruptcy case name and file number, together with copies of any pertinent court filings.
- A chronological summary of the matter.
- A narrative of what occurred. Names, addresses, and telephone numbers (to the extent available) of the subjects and witnesses known to you.
Once a bankruptcy petition is filed, all information submitted regarding the debtor or entity becomes a matter of public record, no matter what the outcome of the case. This information, which is regularly checked by credit companies, may affect the debtor's or entity's credit rating. You should review the plan to determine when or if you will be paid. Most plans pay claims in the following order Administrative, Secured, Priority, General Unsecured.
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