Browse terms
The bankruptcy process
Claim
A claim is a creditor's right to payment from a debtor or the debtor's property. 1
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The Bankruptcy Code uses the word very broadly. A right to payment is a claim whether or not it has been reduced to a court judgment, and whether it is fixed or contingent, matured or unmatured, disputed or undisputed, secured or unsecured. 1
Related terms build on it. A debt is liability on a claim, and a creditor is an entity with a claim against the debtor that arose at or before the order for relief. 2
This breadth matters when you fill in the paperwork. A debtor must provide a list of all creditors and the amount and nature of their claims. A debt you dispute is still a claim, so it belongs on the list. 3 1
Leaving a debt off has a cost. A debt that should have been listed but was not is called an unscheduled debt, and depending on the circumstances it might not be discharged. 3
Common questions
How does a creditor assert a claim in the case?
By filing a proof of claim, a written statement of why the debtor owes money, usually with the amount. There is an official form for it. 1
Are all claims treated the same?
No. In Chapter 13, for example, there are three types of claims: priority, secured and unsecured. 4
Sources
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