Filing a Proof of Claim

Collections Training Resource
September 12, 2012 — 943 views  
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In bankruptcy cases, a creditor should file a proof of claim to ensure a debtor and the relevant estate will be responsible for all awarded payments. Here are the steps that collection professionals, attorneys and creditors must take to file a proof of claim form.

1.) Determine if you are on a debtor's scheduled list of creditors and payments - this details when and how the payments are going to be made and who the money is going to. If you are not on this list, you cannot expect to be paid.

2.) Fill out Form 10 - This document can be found online, and is used in court as the official "proof of claim" document.

3.) Time constrictions - Most states require Form 10 to be filed within 90 days of the scheduled creditor meeting in bankruptcy cases. If you do not meet this deadline, you will not be subject to available funds.

4.) Copy critical documents - You should file Form 10 in every court that a potential debtor has been heard in, and all relevant documents (judgment liens, contracts, etc) should be attached to every copy of the form.

Collections Training Resource