Creditors who receive a Notice of Bankruptcy from one of their customers or borrowers should take the time to read it. The notice provides creditors with a variety of important deadlines. If you miss these deadlines, it is possible you will forfeit your right to make a claim or file an objection. Below are a few of the deadlines that are typically listed on the Notice of Bankruptcy:
- Filing Date: This is the date the debtor filed the bankruptcy petition and many other dates depend on this date.
- 341 Meeting: The “meeting of creditors” as required under Section 341 of the Bankruptcy Code, will be scheduled by the Notice. It is typically 30-45 days after the date the bankruptcy petition was filed.
- Proof of Claim Deadline: If the debtor files an asset case, creditors must file their Proof of Claim by a specific deadline or their claim may be deemed to be waived.
- Objection Deadline: The Notice will provide you with the deadline to object to discharge. A creditor must allege an objection to the discharge of its debt within 60 days after the first scheduled meeting of creditors.
- Deadline to Object to Exemptions: If the debtor has claimed an exemption in error, a creditor can object to such exemption. This type of objection must be filed within 30 days after the meeting of creditors has concluded.
There are other numerous important deadlines in a bankruptcy case, so it is important to consult with an experienced attorney to ensure that you do not waive any of your rights as a creditor. To learn more, contact Windtberg & Zdancewicz, PLC, today!
The attorneys at Windtberg & Zdancewicz, PLC, provide clients with experienced legal representation. We are experienced in creditor’s rights including garnishments, charging orders, attachment, property execution, trustee’s sales, foreclosures, judgments, judgment collection, domestication of foreign judgments, and creditor’s issues in bankruptcy cases. If you need assistance, or are interested in learning more, please contact us at (480) 584-5660.