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Proof of Claim

A document, filed with the Bankruptcy Court, and used to substantiate the claim of a creditor. It is generally filed by a creditor, and it may determine if an unsecured creditor will be paid, and the amount of such payment. In the case of a secured creditor, the failure to file a Proof Of Claim generally may not affect that creditor’s security interest in the collateral.

***All information is deemed to be accurate, but is not guaranteed***

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