Today, I will answer the question, “I’m filling out my schedules and the forms are asking if the claims against me are contingent, liquidated or disputed. What does ‘disputed’ mean?”
A disputed claim is exactly what it sounds like. Is there a bona fide or authentic dispute related to that liability? If there is a dispute, you then have to complete the schedule with the amount that the creditor claims and then show that it’s disputed. That way the bankruptcy court and the trustee will have an idea as to the total amount of exposure that might be related to that claim.
My name is Ron Drescher. I’m an attorney practicing bankruptcy and commercial litigation, and if you have a question about whether or not your claims are liquidated, disputed or contingent, please pick up the phone and call me at 410-484-9000. I would love to hear from you.