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What Happens After I Filed a Proof of Claim

After a "Proof of Claim" has been filed with the Clerk of the Bankruptcy Court, a stamped copy will be forwarded to the Chapter 13 Trustee's Office who will record the received date and place them in case number order. The claims are coded and entered into the correct case to be considered for disbursements. An "Acknowledgement of Claim" is prepared as a result of the filing of a "Proof of Claim."

The creditor will receive an "Acknowledgement of Claim" from the Trustee's Office within four (4) to six (6) weeks after the creditor files the claim. If an "Acknowledgement" is not received by the creditor who has timely filed a claim, please notify the Trustee's office. The creditor should check the dollar amount, classification, and account number to the claim filed to be certain they match. If the creditor feels an error has been made, the Trustee's office should be contacted.

If a claim is filed as priority or secured, and was originally scheduled by the debtor as unsecured, the Trustee's office will place a limit on this claim. A limit will not allow funds to be disbursed.

If the plan provides for interest to be paid on a secured claim, the "Acknowledgement" will also contain the interest rate, which the plan proposes to pay the creditor from confirmation forward. If the creditor disagrees with the plan provision for payment of interest, the creditor must object to the plan and request that specific language be placed in the plan which would require payment of interest on the claim.

If the creditor is "over secured," the claimant may be entitled to be paid interest after the plan is confirmed for the time period between the filing of the bankruptcy and confirmation (Court approval of the plan). Creditors are "over secured" if the value of their security exceeds the amount owed on their debt. If a claimant believes that he is an "over secured creditor, he must either (1) obtain language in the plan which specifically provides for post-petition, preconfirmation interest; or (2) object to the Trustee's "Acknowledgement of Claim" and obtain a Court Order specifically providing that the creditor will be paid post-petition, pre-confirmation interest, and the rate at which such interest shall be paid. Absent either a specific provision for pre-confirmation interest in the plan or a separate Court Order providing for post-petition, preconfirmation interest, the Trustee will only pay interest from confirmation forward.


Notice: This web site is provided with the understanding that the Chapter 13 Trustee Office is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent person should be sought.