When a debtor files a bankruptcy action, creditors may or may not have the opportunity to file a proof of claim evidencing the amount owed to the creditor on the date the bankruptcy action was filed. The court sets a deadline for filing the proof of claim, to which all creditors must strictly adhere. But what if a creditor misses the deadline? Is all hope lost, or is there a mechanism to still get the claim in and receive a portion of any distribution? Well, whether an untimely claim is valid or not really turns on notice.
Blogs & Resources
Jimerson Birr, P.A. offers clients a customer-focused and cost-effective alternative to larger business law firms.