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Commercial

What you should know about filing a Proof of Claim

Author

Jonathan K.

What is a Proof of Claim?
A Proof of Claim is a written assertion to the bankruptcy court, trustee, debtor and other interested parties that you, the creditor, wish to assert your rights to a distribution in a bankruptcy case. Filing a Proof of Claim may be your only avenue of potentially being paid by a bankrupt debtor.

Bankruptcy Basics

Author

Jonathan K.

You may be aware there are several classifications of bankruptices, but do you know what each type means and what distinguishes them from one another? Having a basic understanding of bankruptcy classifications and their restrictions could play an important role in your collection efforts.