When you're completing Baltimore County bankruptcy schedules and forms, you have to answer whether any of your claims are contingent, liquidated, or unliquidated claims. Unliquidated claims are also known as disputed claims. The bankruptcy schedules and forms for Delaware, Maryland, Pennsylvania, or Virginia bankruptcies all ask you to provide this information. So let's talk about what is involved with a disputed claim.We call it a disputed claim when there is a disagreement related to that liability and it's impossible for you and your creditor to agree upon the exact amount that is due under that claim. When this happens, you and your lawyer together must figure out how the performing side has been damaged. By accurately completing the bankruptcy schedule, you'll be able to go to court and present your evidence to the bankruptcy court and the trustee. The court and trustee will determine the total amount of exposure that might be related to that claim. For more information, read What Is the Meaning of An Unliquidated (Disputed) Claim in a Maryland Bankruptcy?
If you have any questions about whether or not your claims are liquidated, disputed or contingent, please pick up the phone and call me at 410-484-9000. I’d love to hear from you.