Bankruptcy Claims

940 Views | 4 Replies | Last: 2 yr ago by GoodAg82
GoodAg82
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2:50p, 7/6/23
AG
As a creditor, what is the difference between "ordered claim" status and "proof of claim" status in bankruptcy?
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Aglaw97
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2:53p, 7/6/23
AG
Proof of claim is what a creditor submits to the trustee to establish they are owed money. Once those are submitted, they are "ordered" as to priority status to get paid with whatever assets of the bankruptcy estate are available based upon the priority rules in bankruptcy.
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GoodAg82
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3:07p, 7/6/23
AG
Thank you! So, if a claim is in "ordered claim" status, it is further along in the process than a "proof of claim" status?

Thanks for your help…I appreciate it!
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Aglaw97
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3:10p, 7/6/23
AG
If you have received an order of your claim, I would presume they have you in the system as a result of submitting the proof of claim. You could always contact the bankrupcty estate trustee to confirm.

Depending on your status and the size of the estate, you may or may not be likely to receive anything.
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GoodAg82
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3:18p, 7/6/23
AG
Thank you!
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