Creating Proofs Of Claim

A proof of claim is a written statement describing the reason(s) a debtor owes the creditor money. The creditor files this document with the court and/or the administrator of the bankruptcy case. In most cases, the proof of claim ensures that every creditor is given due consideration when resolving the debt. Some types of debts are given more priority than others. So the proof of claim is typically one of the more important documents that reviewed in bankruptcy proceedings.

The proof of claim may be deemed filed if the debt appears in the bankruptcy petition's list of creditors. Creditors can file additional proofs of claim for any debt that may not be included in the petition.

The C1-Bankruptcy business object provides for an ability to create proofs of claims as customer contacts. The extract logic, however, is assumed to be the implementation's responsibility.