A "liquidated" claim is a right or a demand to pay a certain amount of money which all parties have agreed upon.
If a petitioner is filing bankruptcy they must prepare a list of all their debts in a bankruptcy schedule. The bankruptcy schedule will list the debtor's debts and identity each claim as disputed/undisputed and contingent / noncontingent and liquidated / unliquidated.
Filing requirements can vary for different bankruptcy petitions. Creditors under Chapter 7 Bankruptcy and Chapter 13 Bankruptcy must file their claims for debts regardless of the type of debts. Chapter 11 Bankruptcy creditors can, in certain cases, either file a claim requesting another payment amount or they can accept the payment as scheduled (only for claims which are undisputed, liquidated or noncontingent).
More Help on Liquidated Claim
- Chapter 11 Bankruptcy - Unlike Chapter 7 Bankruptcy which liquidates the debtors non-exempt assets, Chapter 11 Bankruptcy allows the Debtor (which is generally a corporation or partnership) to restructure their debt obligations and continue to operate their business (although the business is supervised by the bankruptcy court and should be managed and operated for the benefit of the creditors). - read more
- Chapter 13 Bankruptcy - Chapter 13 Bankruptcy allows the debtor to create a 3 or 5 year bankruptcy repayment plan to restructure their debt payments. - read more
- Chapter 7 Bankruptcy - Chapter 7 Bankruptcy is a liquidation or \"straight\" bankruptcy. It is the quickest, easiest and least expensive type of bankruptcy method to discharge debts. - read more
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