Download Proof of Claim Form

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Proof of Claim Form


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In a bankruptcy proceeding, a creditor must file a proof of claim form to show the amount of money the debtor owes, and in turn compel the trustee to pay the creditor. Creditors must complete this form properly and submit it to the court or else they will not be paid.

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Information to Include

  • Case number
  • Name of debtor
  • Name of creditor
  • Address and phone number where notices should be sent
  • Address and phone number where payment should be sent
  • Amount of debt
  • Any credit the debtor has paid toward debt
  • Basis of claim
  • Whether the claim is secured or unsecured
  • Debtor ID number

Creditors must also indicate whether any part of the debt (and the amount) falls under domestic support, down payments for leasing or buying property, wages earned within 180 days of filing the case, taxes, and contributions to employee benefits (see Chapter 11, Section 507 (a) of the U.S. Code to determine whether your debts fall under these qualifications). These types of debts are entitled to priority, meaning that any assets the creditor has that aren’t exempt will go towards paying taxes, child support, and alimony before any other debts. These are also not dischargeable in bankruptcy.

Instructions

If the proceedings find that all the debtor’s property is exempt from creditors (referred to as a “no-asset case”), then there is no need to complete the proof of claim form. But if the debtor has assets that are subject to the debt, the court will rule it an “asset case” and notify creditors to send the proof of claim form. The notice will include a deadline, which is usually 90 days.

One section requiring special attention is the attachments required. Creditors must attach any documents showing that a debt exists and that there’s a lien on the debt, as well as documents showing that any security interest has been perfected. Perfecting a security interest means that the creditor has protected its interested in the money owed against third parties that may also have an interest in the debtor’s property. This requires creditors to either possess the security interest, register its interest with the local government, or sometimes by notifying other creditors. Thus, for a proof of claim form, creditors would have to attach copies of titles (e.g., to show possession of a car or boat), registrations, or notices.

It is important to fill out the form correctly and carefully classify debts as priority or secured, because the debtor and other creditors can object to the proof of claim if you fail to attach supporting documents or complete the form properly.

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