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Brent Blanchard
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
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Experience:  Twelve years experience in all aspects of debtor & creditor BK.
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Once a chapter 11 Bankruptcy is filed, how long does a creditor

Resolved Question:

Once a chapter 11 Bankruptcy is filed, how long does a creditor have to file a secured & unsecured claim?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Brent Blanchard replied 1 year ago.
Thank you for your question.

Bankruptcy is mostly federal law, but those laws let each state set some of the dollar values we work with.

The default rules are different for Chapter 11 cases (number of days after triggering event). In Chapter 11, Federal Rule of Bankruptcy Procedure 3003(c) says that these deadlines are set by the court after a motion by the debtor.

****
(c) Filing Proof of Claim.

(1) Who May File. Any creditor or indenture trustee may file a proof of claim within the time prescribed by subdivision (c)(3) of this rule.

(2) Who Must File. Any creditor or equity security holder whose claim or interest is not scheduled or scheduled as disputed, contingent, or unliquidated shall file a proof of claim or interest within the time prescribed by subdivision (c)(3) of this rule; any creditor who fails to do so shall not be treated as a creditor with respect to such claim for the purposes of voting and distribution.

(3) Time for Filing. The court shall fix and for cause shown may extend the time within which proofs of claim or interest may be filed.

****

So, we watch the paperwork coming out of the court and make sure we calendar all deadlines as they are set.

Chapter 11 does not distinguish between secured and unsecured claims, as far as filing proof of claim is concerned.

Thank you.

BAB.
Customer: replied 1 year ago.

If you don't distinguish b/w secured & unsecured claims- what is the document you file called?


Once debtor files motion typically how much time (deadline) do the courts usually give creditors to file their claims?

Expert:  Brent Blanchard replied 1 year ago.
Regardless of the type of claim, they are generically called "Proof of Claim".

Local Districts often have their own form, which is often mailed/e-mailed with the Notice of the deadline to file claims. Here is the one used in the Southern District of Texas: http://www.uscourts.gov/uscourts/RulesAndPolicies/rules/BK_Forms_Current/B_010.pdf

Note that Box 4 is for the description of what makes a claim secured. The same form is used in all Chapters.

Thank you.

BAB.
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
Satisfied Customers: 1909
Experience: Twelve years experience in all aspects of debtor & creditor BK.
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Twelve years experience in all aspects of debtor & creditor BK.