Anatomy of a Proof of Claim in Bankruptcy
Thursday, April 24th, 2008Proof of Claims in Bankruptcy Cases
The proof of claim is the document indicating what a particular creditor is claiming that it is owed by a debtor. It is the starting point for receiving a share of any funds distributed by the bankruptcy trustee. The same proof of claim for applies to both Chapter 7 and Chapter 13 bankruptcy cases. In the case of a Chapter 7 bankruptcy case, creditors will only be advised to file proof of claims when indicated by the clerk of court that there may be assets to administer.