What legal rights do creditors have?
If you’re a creditor in a bankruptcy case, you have a right to have the correct amount of your debt listed as a liability of the company that has gone into bankruptcy. That can be done by confirming that the debtor has properly listed the amount that you’re owed and by filing a proof of claim, if necessary. When filing a proof of claim (a form provided by the court) attach the documents that support your claim, send the documents to the bankruptcy court, and include an extra copy to be returned with a date filed stamp so you have proof that it has been filed. Creditors can work with an attorney who will assist them with filling out and filing the proof of claim. The attorney can also help the client determine whether or not it’s in the client’s best interest to participate in one of the committees for the bankruptcy, attend hearings or take other action in the case in order to collect on the debt owed. Companies that file bankruptcy do have to list all of the companies or people they o
