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Several forms are unique to bankruptcy court. A key form is the proof of claim. If you are a creditor, it is crucial that you understand the purpose and use of a proof-of-claim form.
Function
The primary function of a proof of claim is to give a creditor the ability to advise the bankruptcy court that the debtor owes that creditor money. Through the proof of claim, the creditor sets forth specifically what is due from the debtor.
Warning
Failure to file a proof of claim by the deadline indicated on the form may impede the creditor's claim.
Contents
The proof of claim is very basic. A creditor need only insert his name, contact information and the total amount of money owed by the debtor.
Filing
Once completed, the proof-of-claim form is filed with the bankruptcy court clerk.
Types
A proof-of-claim form is required to be completed and filed by a creditor in all types of bankruptcy cases.
Source:
Cornell Law School: Bankruptcy Overview
"The Glannon Guide to Bankruptcy"; Nathalie Martin; 2006
More Information:
American Bar Association: Bankruptcy and Insolvency Litigation Committee
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