Do I have to pay back creditors over 10 years old? 14 Answers as of May 30, 2013

When filing bankruptcy do I have to pay back creditors that were over 10 yrs old? And pay the original bill plus the 1st,2nd and 3rd.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
No, those would be discharged. Contact a local attorney for specifics.
Answer Applies to: Washington
Replied: 3/22/2012
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
No.
Answer Applies to: California
Replied: 5/30/2013
The Law Offices of Deborah Ann Stencel | Deborah A. Stencel
Most states (if not all) have statutes of limitations which state how long a debt can be collected. The time period is usually longer if a judgment was entered. However, if you are filing a Chapter 7, you do not have to pay the debt (as long as it is dischargeable). If you are filing a Chapter 13 repayment plan, then the creditor has to file a claim to be paid. If a creditor files a claim on a debt that is too old to collect, you can object to the claim.
Answer Applies to: Wisconsin
Replied: 3/15/2012
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
If you are filing a chapter 13, then creditors have to be given notice. Old creditors may not file a proof of claim in which case then they would not get paid. In a chapter 7, none of the creditors get paid.
Answer Applies to: New York
Replied: 3/15/2012
The Barger Law Firm
The Barger Law Firm | Jason W. Barger
Assuming you are talking about a Chapter 13 (because in a Chapter 7, your creditors typically receive nothing), then what is paid back to the creditors is determined by the trustee assigned to your case. Each creditor must submit a proof of claim and the trustee reviews these claims, making a determination whether the debt should be included in the plan. Unsecured debt has a statute of limitation of four years in Texas, so anything over this time period will be excluded by the trustee.
Answer Applies to: Texas
Replied: 3/14/2012
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    It's a basic rule of bankruptcy. You must list all of your assets and all of ypur debts. It is illegal, immoral and fattenning to intentionally leave out bills or assets. Also unwise. Now, after you list all those debts, you can mark them "disputed" on the Schedule where you listed them. And if any should file a claim to be paid, then you must "object" to that claim promptly. The Court will set a hearing date for the disputes to be heard. Most creditors are cheap and will not show up. Then you win automatically. If the creditor shows, they must prove that they are entitled to collect on the alleged claim and then they must prove that the claim is actually due and owing. If the statute of limitations has run, all you have to do is say so, and you will win. But you have to know how and when pop up with your defenses. The system is actually quite easy and favorable for debtors. But you need a mouthpiece. You can't keep taking off works to handle hearings, Can you? So get an attorney to handle these things correctly for you. The attorney will probably save you more that they cost. Good luck.
    Answer Applies to: Ohio
    Replied: 3/14/2012
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    If you are filing chapter 7 there is no repayment whether its 10 years old or not.
    Answer Applies to: Michigan
    Replied: 3/14/2012
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    The statute of limitations is 4 years in California. The means no charges or payments in the last 4 years. I'm not sure what you mean by the 1st, 2nd, and 3d. If those are mortgages and you want to keep the house, yes you have to pay them - unless you can strip off the 2nd or 3rd in Chapter 13.
    Answer Applies to: California
    Replied: 3/14/2012
    T.K. Byrne | Timothy K. Byrne
    No, file an objection to these creditors proof of claim and/or object than the debt period exceeds the Mississippi Statute of Limitations.
    Answer Applies to: Mississippi
    Replied: 3/14/2012
    Law Office of Jeffrey Solomon
    Law Office of Jeffrey Solomon | Jeffrey Solomon
    Not sure what you are asking. If you are in a chapter 7 bankruptcy, you would be eliminating current and old debt. Even if you do not file bankruptcy, you may have a statute of limitations defense to any claim on the old debt. In a chapter 13 payment plan bankruptcy, the old debt can also be disputed if beyond the statute of limitations, which is probably 5 years from your last payment or charge on the account.
    Answer Applies to: Florida
    Replied: 3/14/2012
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    If you're filing bankruptcy, you shouldn't have to pay debts that are ten minutes old, let alone ten years, figuratively speaking. The bankruptcy wipes everything out.
    Answer Applies to: California
    Replied: 3/14/2012
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    If the creditor has a judgment, then you would have to pay if the judgment is renewed. Debts usually are non collectible after 4 years. So, you want to review these with your attorney and make sure that all debts that are too old to get paid are not included in your payments.
    Answer Applies to: California
    Replied: 3/14/2012
    The Law Offices of Kristy Qiu
    The Law Offices of Kristy Qiu | Mengjun Qiu
    You have to list all your debts, so include all of them, regardless of age. If it's a chapter 7, all or at least most of your unsecured debts will be discharged, if chapter 13, the trustee will distribute the payment pro rata in accordance to proof of claim filed by your creditors.
    Answer Applies to: Florida
    Replied: 3/14/2012
    Ferguson & Ferguson
    Ferguson & Ferguson | Jackie Ferguson Graham
    You need to list all your possible creditors. Then when they file a proof of claim you can object to the debt on the basis that it is past the statute of limitations.
    Answer Applies to: Alabama
    Replied: 3/14/2012
Click to View More Answers:
12 3 Free Legal QuestionsConnect with a local attorney