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Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws also protect financially troubled businesses. This section explains the bankruptcy process and laws.

A Notice of Bankruptcy is sent to creditors after one of their debtors files a petition with the court attempting to claim bankruptcy. After receiving the notice, the creditor must take certain steps to protect their interest in the money they are owed.

Creditors will receive notice of a Chapter 7 bankruptcy through Form 309A or Form 309B for individuals (Form 309C or Form 309D for corporations or partnerships), depending on whether a proof of claim deadline has been set in the case. Form 309I is used to notify creditors of a Chapter 13 bankruptcy.

Official Form 309C (For Corporations or Partnerships) Notice of Chapter 7 Bankruptcy Case - No Proof of Claim Deadline 10/20. Page 1. Official Form 309C (For Corporations or Partnerships) Notice of Chapter 7 Bankruptcy Case - No Proof of Claim Deadline.

If you receive this notice, it means one of three things: The address you provided for the creditor in your bankruptcy paperwork was incorrect, The court sent you notice of your own bankruptcy via this form, or. Someone who owes you money filed bankruptcy.

A proof of claim is a form used by the creditor to indicate the amount of the debt owed by the debtor on the date of the bankruptcy filing. The creditor must file the form with the clerk of the same bankruptcy court in which the bankruptcy case was filed.