Proof of Claim

[inhocknow]

Hello folks, thanks for your help. I got my 341 notice and on one of the pages, there is a blank proof of claim page. What is a proof of claim form? Do I need to fill it out? It already has my name and address and case number pre-filled in but everything else is blank. Thanks for all of your great and terrific help.

[HHM]

You do not need to fill out the proof of claim. The Proof of Claim form is for your creditors.

[inhocknow]

Hello folks, thanks for all of your help.
I noticed that the deadline for creditors to object to the dischargeability of my debt to them is about 1 month "before" the proof of claim deadline. What is a proof of claim? Thanks for all of your great and fantastic help.

[HHM]

If your case is designated an asset case...then the trustee solicits all your creditors to file a proof of claim showing how much you owe them. Thus, when the trustee gets whatever assets are available, the trustee turns that money around and pays the creditors.

[inhocknow]

Thanks for your help. What happens if none of the creditors respond? Thanks for your great and fantastic help.

[inhocknow]

Thanks for your help. What happens if none of the creditors respond? Thanks for your great and fantastic help.

Also, when the creditors file a proof of claim, do they know how much the trustee has in total to distribute? Or are they just putting there name into a pot without knowing how many other creditors are there trying to get a piece?

Also, is the portions distributed equally or based proportionately?
Thanks for your help.

[HHM]

Thanks for your help. What happens if none of the creditors respond? Thanks for your great and fantastic help.

Not likely to happen

Also, when the creditors file a proof of claim, do they know how much the trustee has in total to distribute? Or are they just putting there name into a pot without knowing how many other creditors are there trying to get a piece?

No, they just file a proof of claim based on what you owe them. They are not informed about how much available.

Also, is the portions distributed equally or based proportionately?
Thanks for your help.

Payment is proportional. So if CHASE is owed $5,000 and CITIBANK is owed $2,500, Chase would 2/3 of avialable funds and Citibank would get 1/3. But this aspect of the case does not matter to the debtor.

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