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 New Mexico, 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 details of the creditor's claim, including whether it is secured or unsecured, priority or nonpriority, and the specific amount of the debt 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 debtor'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 New Mexico. The deadline for filing a proof of claim is typically outlined in the notice of the bankruptcy case sent to creditors. Failure to file a proof of claim by the deadline may result in the creditor being barred from receiving any payment from the bankruptcy estate.