Tuesday, December 13, 2011

Changes to Bankruptcy Proof of Claim form and Addendum involving Debtor's principal residence.

The bankruptcy proof of claim form has been amended in several respects. A new section—3b—is added to allow the reporting of a uniform claim identifier. The new identifier consists of  24 characters and is intended to facilitate automated receipt, distribution, and posting of payments made by means of electronic funds transfers by chapter 13 trustees. Creditors are not required to use a uniform claim identifier.

Language is added to section 4 to clarify that the annual interest rate that must be reported for a secured claim is the rate applicable at the time the bankruptcy case was filed. Check boxes for indicating whether the interest rate is fixed or variable are also added.


Section 7 of the form is revised to clarify that writings (such as a promissory note) supporting a claim or evidencing perfection of a security interest must be attached to the proof of claim. If the documents are not available, the filer must provide an explanation for their absence.  The instructions for this section of the form explain that summaries of supporting documents may be attached only in addition to the documents themselves.


Section 8—the date and signature box—is revised to include a declaration that is intended to impress upon the filer the duty of care that must be exercised in filing a proof of claim. The individual who completes the form must sign it. By doing so, he or she declares
under penalty of perjury that the information provided “is true and correct to the best of my knowledge, information and reasonable belief.” That individual must also provide identifying information—name; title; company; and, if not already provided, mailing address, telephone number, and email address—and indicate by checking the appropriate box the basis on which he or she is filing the proof of claim (for example, as creditor or authorized agent for the creditor).


Amendments are made to the instructions that reflect the changes made to the form, and stylistic and formatting changes are made to the form and instructions. Spaces are added for providing email addresses in addition to other contact information in order to facilitate communication with the claimant. The provision of this additional information does not affect any requirements for serving or providing official notice to the claimant.

A sample form may be found at:   New Revised Proof of Claim form


ATTACHMENT INVOLVING DEBTOR'S PRIMARY RESIDENCE
There is also an "Attachment A" to the proof of claim form.  It must be completed and attached to a proof of claim secured by a security interest in a debtor’s principal residence. The form requires an itemization of prepetition interest, fees, expenses, and charges included in the claim amount, as well as a statement of the amount necessary to cure any default as of the petition date. If the mortgage installment payments include an escrow deposit, an escrow account statement must also be attached to the proof of claim.


 ATTACHMENT INVOLVING CHAPTER 13 CASES
This form is new and applies in chapter 13 cases. It requires the holder of a claim secured by a security interest in the debtor’s principal residence—or the holder’s agent—to file a notice of all postpetition fees, expenses, and charges within 180 days after they are incurred. The notice must be filed as a supplement to the claim holder’s proof of claim, and it must be served on the debtor, debtor’s counsel, and the trustee. The individual completing the form must sign and date it. By doing so, he or she declares under penalty of perjury that the information provided is true and correct to the best of that individual’s knowledge, information, and reasonable belief. The signature is also a certification that the standards of Rule 9011(b) are satisfied.
The form may be found at:  Chapter 13 supplemental form

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