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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 Alabama, 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 distribution from the bankruptcy estate. This form outlines the nature and amount of the creditor's claim and indicates whether the claim is secured, unsecured, priority, or nonpriority. 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 debtor's assets. The Bankruptcy Code and Federal Rules of Bankruptcy Procedure govern the filing of proofs of claim, and these federal laws apply uniformly across all states, including Alabama. Local bankruptcy courts may have additional rules or forms that creditors must use, so it is important for creditors to be aware of the specific requirements in the Alabama bankruptcy courts where the case is filed.

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Bankruptcy

proof of claim

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Bankruptcy

proof of claim

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