A proof of claim in bankruptcy is a way for a creditor to get paid in a Chapter 13 bankruptcy case.
Imagine a classroom full of desks. At each of those desks there is a child, which represents one of your creditors. A proof of claim is simply when one of these children raises their hand and says you owe them money.
That is essentially what a proof of claim is.
Creditors don’t just get to raise their hands though, and they can’t call the trustee either, they have to submit a proof of claim in writing.
Click here to see what a proof of claim looks like
A proof of claim should also have proof of the debt (hence the term proof), but most of the time creditors just include a summary page of the debt.
The proof of claim is one of the most important documents in bankruptcy. It can make or break a bankruptcy case. It is important to review all proofs of claim for accuracy, or you might wind up paying a lot more than you should in your Chapter 13 case.
