Proof of Claim 101 -- What Is a Proof of Claim? What Is a Bar Date? What Information is Required to File a Proof of Claim?
Creditors usually should file a proof of claim when the borrower files a bankruptcy case. In Chapter 7 cases where there are assets in the bankruptcy estate and in Chapter 11, 12 and 13 cases, the creditor should file a proof of claim. Here are some of the basics involved in preparing and filing proofs of claim.