QUESTION
what does asserted priority of a claim mean?
Asked on Dec 01st, 2012 on Bankruptcy - Delaware
More details to this question:
Bankruptcy; I'm the claimant. I have to state asserted priority of my claim in a bankruptcy case?
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
Nowhere near enough information to answer your question. Which bankruptcy chapter was filed? What is the basis of your claim (i.e. is it based on a contract, wages within a certain period prior to the case being filed, etc.)?
In either CHapter 13 cases or Chapter 7 cases where assets are being distributed, you are required to timely file a "proof of claim" form in order to share in the distribution of assets or payments.
If you have a claim secured by assets, then you would be a secured claimant. If you are unsecured, you can either be general unsecured, or you could have a priority unsecured claim, which would entitle you to be paid in full before any general unsecured claims (such as credit cards) would get paid.
11 U.S.C. 507 sets forth the specific categories eligible for priority. If your claim falls into one of those categories, then you would list it (or that portion of it) as priority on the proof of claim form.
I suggest you engage the services of a bankruptcy attorney in the location where the bankruptcy case was filed to assist you with protecting your rights in this matter.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
Answered on Dec 01st, 2012 at 4:17 PM