• Oakland – (510) 344-6601
  • San Francisco – (415) 252-9600
California Business Attorneys | Oakland CA
  • Professionals
    • Lonnie Finkel
    • Ruth Auerbach
  • Practices
    • Federal Practice
    • Litigation
    • Transactions
      • Intellectual Property
      • Mergers and Acquisitions
      • Bankruptcy & Restructuring
      • Corporate
      • Tech Start-Ups
      • Real Estate & Environmental
      • Securities & Corporate Finance
  • Insights
    • Blog
    • Resources
      • Copyright Law Fundamentals
      • Protect Your Company’s Software Assets
      • Protect Your Company’s Trade Secrets
      • Crowdfunding White Paper
      • Video Tips
    • Speaking
  • Contact Us
    • 510.344.6601
    • 415.252.9600

Creditors Don’t Forget to File Your Proofs of Claim When a Debtor Files for Bankruptcy

August 16, 2013 by Ruth_Auerbach

Proof of Claim Form ImageOne of the first things you as a creditor should do when you receive notice that a customer has filed bankruptcy is to file a proof of claim.  The Proof of Claim form (Official Form 10) often accompanies the notice of the commencement of the case, and can also be found at the Court’s website.  Instructions for completing the form accompany the claim form.  It needs to be completed in full, and supporting documents should be attached.  The deadline for filing claims is set forth on the Notice of Commencement of the Case.

Claims should be filed timely or they can be forever time barred.  Creditors who miss the filing deadline will have the burden of showing that the late filing should be allowed by showing that the deadline was missed through inadvertence or excusable neglect, and that there is no harm to the Debtor or the other creditors in allowing the case.  The closer to the deadline the motion is filed, the more likely it is that the filing will be allowed, especially if the Debtor has not already prepared its plan.  If a creditor is not listed and has not been given notice of the case, then the creditor will be allowed to file a late claim in order to share in any distribution.

Make sure you know whether you have a general unsecured claim, a priority claim or a secured claim and that you fill out the proof of claim correctly.  You should probably have an attorney look at your records related to the debtor (any credit applications, invoices, etc.) to see if they contain language that might give you a basis for getting paid ahead of general unsecured creditors.

Finkel Law Group, with offices in San Francisco and Oakland, has extensive experience guiding clients through the bankruptcy process as both creditors and debtors. When you need intelligent, insightful, conscientious and cost-effective legal counsel to assist you with understanding or pursuing bankruptcy protection, please contact us at our Oakland Office (510) 344-6601, or San Francisco (415) 252-9600, or info@finkellawgroup.com to speak with one of our attorneys about your matter.

Filed Under: Bankruptcy & Restructuring Tagged With: bankruptcy attorney, bankruptcy law, bankruptcy protection

   

Bankruptcy & Restructuring Posts

  • Avoiding Fraudulent Transfer Claims in Bankruptcy
  • Navigating Complex Legal Challenges for Small Businesses in California’s Bankruptcy Litigation
  • Chapter 11 Bankruptcy: Debtor-in-Possession Financing in California
  • Securing New Financing Post-Bankruptcy
  • Bankruptcy’s Impact on the Reputation of a Family-Owned Business: Maintaining a Positive Image

Connect with social media

  • linkedin
  • yelp
  • academia
  • mail

© 2009-2025 Finkel Law Group, P.C. - All rights reserved.

Contact Information

Oakland Office 1999 Harrison St, Ste 1800 Oakland, CA 94612 (510) 344-6601

San Francisco Office One Sansome Street, Suite 3500 San Francisco, CA 94104 (415) 252-9600

info@finkellawgroup.com

Disclaimer: Please be aware that you do not become a client of Finkel Law Group, P.C. nor have we established an attorney client relationship simply by your visiting the Finkel Law Group, P.C. website or by communicating to this office through this website. In addition, you understand and agree that Finkel Law Group, P.C. will have no duty to keep confidential the information you are now transmitting to this office. The content on this website is only for educational purposes and does not constitute legal advice.