Rule 2004 Exams: What are They & How to Use Them
Proofs of Claim: When in Doubt, File
§506(b): Creditor should be aggressive in filing its Proof of Claim, seeking the maximum amount for which the Debtor may be liable: including pre-and post-petition Attorneys’ Fees and interest.
Rule 3002(c): Creditor in Chapters 7 or 13 must file not more 90 days after the first date set for Meeting of Creditors unless:
(1) Creditor = a governmental unit; (2) Creditor = infant, incompetent or their representative; (3) Claim arises from a judgment; (4) Claim arises from rejection of an executory contract; (5) Notice of insufficient assets to pay a dividend.
The form for Proof of Claim can be found online at Court Website: http://www.ilnb.uscourts.gov/index.html
Relief from Stay: Tricky but Possible
Laguna Associates: Debtor’s lack of good faith in filing Bankruptcy may be grounds for lifting the Stay. In assessing “good faith” Courts look at a multitude of factors:
Dismissal of the Case: The Zen Moment