Law & Legal & Attorney Bankruptcy & consumer credit

How to Accept Payments From a Company That Is Going Bankrupt

    • 1). Download a Proof of Claim form from the U.S. Courts website.

    • 2). Fill in the name of the judicial district where the company's bankruptcy case was filed. You should also fill in the name, address, telephone number and account number associated with the company.

    • 3). Fill in the amount of the claim and the basis of the claim. You also need to include the account number associated with the debt. Classify the claim as secured, partially secured or priority.

    • 4). Attach copies of any documents that prove the debt exists.

    • 5). Submit this form to the bankruptcy court and relax. The bankruptcy trustee appointed to the company's bankruptcy case will consider your claim and pay you according to the payment priority set by the Bankruptcy Code.

      Claims will be paid in the following classes: secured claims; unsecured claims relating to the administration of the bankruptcy case; general unsecured allowed claims; allowed unsecured tardy claims; claims for any fine, penalty, forfeiture or punitive damages; claims for interest accrued on other claims since filing the case; and claims of the debtor. All claims from the higher class must be paid before the next lower class can be paid.

You might also like on "Law & Legal & Attorney"

Leave a reply