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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 Wyoming, as in all states, a proof of claim is a formal statement filed by a creditor in a bankruptcy case to assert their right to receive a distribution from the bankruptcy estate. This document must detail the nature of the claim (secured or unsecured), its priority status, and the claim amount. Creditors are required to file a proof of claim in Chapter 7 (except in no-asset cases where there are no funds to distribute), Chapter 12, and Chapter 13 bankruptcy proceedings to participate in any distribution of the debtor's assets. The process is governed by federal bankruptcy law, specifically under the Federal Rules of Bankruptcy Procedure, as bankruptcy is not governed by state law. Creditors who fail to submit a proof of claim within the specified deadline generally forfeit their right to payment from the bankruptcy estate.

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Bankruptcy

proof of claim

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Wyoming State Code

Wyoming State Code

Bankruptcy

proof of claim

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