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Re: goldstandard post# 46290

Sunday, 08/17/2014 1:09:36 PM

Sunday, August 17, 2014 1:09:36 PM

Post# of 116195
You don't "see it now". Allowed Claims do not have to be paid in total in order to be Satisfied in Full.
Allowed Claims are legitimate claims, but this is a BANKRUPTCY.

Example: You owe $10,000 on a credit card. You claim bankruptcy. The credit card company has an Allowed Claim against you for $10,000. They might get nothing. But they can negotiate with you to receive something, let's say they agree to accept $1,500. When you pay them the $1,500, they are Satisfied in Full and they go away.
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