Bankruptcy 105: Preparing, Filing and Updating
Bankruptcy Proofs of Claim
A NorthLegal Webinar presented March 21, 2024
Duration: 2:02 hrs:minutes
| Cost | How to Attend | How to Obtain Handouts |  |
When should a creditor file a "proof of claim" in a bankruptcy case, and when is it unnecessary? What happens if you don't file one when you should, or do file one when you shouldn't?
What are common mistakes creditors make, what harm can those mistakes cause, and how can those mistakes be avoided? Must a creditor use the official form, or may the creditor use its own form? What value should be used for collateral? Should the creditor attach evidence of that value? What documents must be attached?
Filing a proof of claim in a bankruptcy case isn't just clerical work — it is serious business. It can affect when payments to a creditor begin, how much the creditor is paid, and whether the creditor is paid at all. An improperly prepared proof of claim can even lead to sanctions against the creditor! The proof of claim must be completed accurately and on time.
It is imperative that whoever files proofs of claim for your financial institution really understand and comply with the rules that govern them.
During this online training program, attorney Eric North helps participants understand:
| • | When you should file a proof of claim and when it is unnecessary |
| • | Deadlines for filing a proof of claim and what happens if you are late |
| • | Steps a debtor can take to try to defeat all or part of your claim, and how you should respond |
| • | How to complete the official Proof of Claim form |
| • | How to itemize principal, interest, late fees, attorneys fees, and any other amounts included in the claim |
| • | What information you are prohibited from including with a proof of claim and what your financial institution should do if you make a mistake |
| • | When to include "Attachment A" and how to complete it |
| • | What other attachments must be included with the proof of claim |
| • | When an already-filed claim must be updated during the course of a bankruptcy using "Supplement 1" and/or "Supplement 2" and how to complete those forms |
| • | What your duty is when a Chapter 13 trustee provides you with a Notice of Final Cure Payment |
| • | Common errors creditors make and how to avoid or fix them |
Attend this webinar to learn the rules you must know in order to protect your financial institution's rights, maximize chances for recovery, and avoid costly errors.
This program is the fifth in a series of webinars intended to help collections and bankruptcy professionals understand and respond appropriately to bankruptcy filings.
NOTE: This program is intended only for employees of consumer lending
institutions. Please contact NorthLegal Training and Publications to obtain approval
before registering if you are not an employee of a consumer lending institution.
Cost/Registration
The fee to attend this archived program is $190.00 if paid by credit card or $200.00 if paid by check. For that fee, you or someone from your financial
institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for six months! Contact NorthLegal for information.)
How to Attend an On Demand Webinar | How to Obtain Handouts
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Register" link, above. To register by mail, call NorthLegal at 623.537.7150. |
| • | Check your email. Within moments after you complete the registration process you should receive two emails. One will be a receipt for the transaction and the other will contain a link and instructions explaining how to use that link to attend the program. |
| • | Download the handout materials using the link appearing in the confirmation email. The confirmation email also includes the password needed to open the materials. |
Speaker: Eric North
Eric North is an attorney who represents the interests of credit unions and other financial institutions respect to litigation, compliance, governance, bankruptcy and collections matters. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.
Eric is also a nationally recognized speaker on legal issues relating to consumer
lending institutions, and has presented hundreds of programs on behalf of national,
state and local leagues and associations from around the country.
Live program scheduling conflict?
No problem! Registration for a NorthLegal webinar automatically entitles you to watch it live AND to watch the archived version as many times as you like for six months!
If you or your staff can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!