creditor's claim

creditor's claim
1) A written claim filed in federal bankruptcy court by a person or entity owed money by a debtor who has filed for bankruptcy.
2) A written claim filed in probate court by a person or entity owed money by a person who has died. State law sets a deadline, usually a few months, for filing a claim in probate court. If the executor or administrator in charge of the probate denies the claim, the creditor can request a court hearing.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Category: Wills, Trusts & Estates → Estates, Executors & Probate Court

Nolo’s Plain-English Law Dictionary. . 2009.

creditor's claim
n.
   a claim required to be filed in writing, in a proper form by a person or entity owed money by a debtor who has filed a petition in bankruptcy court (or had a petition filed to declare the debtor bankrupt), or is owed money by a person who has died. Notice of the need to file a creditor's claim in the estate of a person who has died must be printed in a legal advertisement giving notice of death. Then a creditor has only a few months to file the claim, and it must be in a form approved by the courts.
   See also: claim in bankruptcy, probate

Law dictionary. . 2013.

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Look at other dictionaries:

  • creditor's claim —    A claim, which must be filed in writing and in a proper form, by a person or business who is owed money by a debtor who has filed a petition in bankruptcy court (or had a petition filed to declare the debtor bankrupt), or who is owed money by… …   Business law dictionary

  • creditor's claim — Generic term to describe any right which a creditor has against his debtor. For recovery in bankruptcy, such must be provable. See also claim …   Black's law dictionary

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  • claim — n [Old French, from clamer to call, claim, from Latin clamare to shout, proclaim] 1 a: a demand for something (as money) due or believed to be due; specif: a demand for a benefit (as under the workers compensation law) or contractual payment (as… …   Law dictionary

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