A lesson from the foreclosure crisis is that a moneylender may be lying when it says it owns a debt. That lesson has been applied to bankruptcy proofs of claim.
A proof of claim is a document that a moneylender files in a Chapter 7 or Chapter 13 bankruptcy. A form can be found here. The moneylender declares that a debt exists between the debtor and the moneylender (usually a secured debt), and that this moneylender has the right to receive payment on that debt.
The proof of claim can sometimes be a bit of a formality. But the rules have been changed to help ensure proper collection techniques. Specifically, the moneylender must now prove its ownership, and not simply assert its ownership.
There are multitudes of forms which need to be filed in a bankruptcy. Some of them are time-sensitive, and most of them need to contain certain facts in order to be valid. The attorneys at Henley and Henley, P.C. are familiar with all bankruptcy regulations. They know how to guide you through this process and obtain the best result possible for you and your family. Call today for your free consultation.