The New Year brings with it new changes to the bankruptcy code.
These recent rule changes apply to any case filed after December 1,
2017, and may apply retroactively to pending proceedings in those
instances where it would be "just and practicable."
Although many of the changes deal with consumer bankruptcies, key
changes will affect secured creditors.
Changes concerning proof of claim deadlines
In voluntary Chapter 7, 12 or 13 cases, a proof of claim must
now be filed no later than 70 days after the bankruptcy filing
date. In involuntary chapter 7 cases, a proof of claim must be
filed no later than 90 days after the order for relief. Rule
3002(c).
For debts secured by a security interest, a proof of claim
(together with certain supplementary attachments required under
Rule 3001(c)(2)(C)) is considered timely if the claim is filed not
later than 70 days after the order for relief and the supplementary
attachments are filed no later than 50 days thereafter.
