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Bankruptcy

proof of claim

A proof of claim is the form document a creditor must complete to be paid from the assets of a bankruptcy case. The proof of claim generally tells the bankruptcy trustee whether the claim is secured or unsecured, priority or nonpriority, and the amount of the claim. All creditors who want to be paid from the bankruptcy estate must file a proof of claim in Chapter 7, 12, and 13 bankruptcy cases—except in Chapter 7 no-asset cases, as there are no funds for distribution to creditors.

In Alaska, as in all states, a proof of claim is a written statement that creditors must file with the bankruptcy court to assert their right to receive a payment from a debtor's bankruptcy estate. This form outlines the details of the creditor's claim, including whether it is secured or unsecured, priority or nonpriority, and the total amount owed. Creditors are required to file a proof of claim in Chapter 7 (except in no-asset cases), Chapter 12, and Chapter 13 bankruptcy proceedings if they wish to participate in any distribution of the bankruptcy estate's assets. The Bankruptcy Code and the Federal Rules of Bankruptcy Procedure govern the filing of proofs of claim, and these federal laws apply uniformly across all states, including Alaska. The specific deadlines for filing a proof of claim can vary depending on the type of bankruptcy case and are typically outlined in notices sent to creditors by the bankruptcy court.

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Bankruptcy

proof of claim

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Bankruptcy

proof of claim

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