Chapter 7 Forms Must Include a List Of Creditors

According to the Code, persons or organizations possessing known or contingent rights, claims, judgments, or causes of action against debtors are considered creditors in Chapter 7 bankruptcy cases. Any person or organization that may potentially allege liability should be considered as a creditors in Chapter 7. Even those claims and potential liability that are considered remote, and unlikely to be asserted should be included. All claims appearing on the Chapter 7 creditor form, schedule H will be discharged unless a valid objection is sustained. Debtor's may include even the remotest possibility of liability, and remove all doubt when the claim is eliminated tat the final discharge hearing.