Legal Alert - Coming Soon: Bankruptcy Proofs of Claim Must be Filed Sooner and by More Claimants


by Nathan G. Kanute

Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take heed of this change for two reasons: (1) the rule now requires secured creditors to file proofs of claim; and (2) the time to file a proof of claim has been cut nearly in half.

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