A proof of claim in a bankruptcy for open-ended debt, such as revolving credit lines, is governed by Rule 3001(c). It is, essentially, a way for a creditor to make sure they get paid in a Chapter 13 plan. The purpose of Rule 3001(c) is highlighted in In re Goeller from Virginia, which states, "The underlying principal...is that the bankruptcy claims process should be simple and straight-forward so that creditors can be promptly paid. This objective is furthered if creditors are able to file claims without undue expense or burden. At the same time, there must be standards so that trustees, debtors and other creditors can reasonably determine whether filed claims are proper. Your Chester County bankruptcy lawyer is supposed to look at each proof of claim to ensure it is proper.
Rule 3001 endeavors to balance these competing principles." The court further created reasonable guidelines, including sanctions for non-compliance. It looks for substantial compliance with the "spirit of the applicable rules" as per In re Crutchfield in the Middle District of Georgia. So, if most of the information allows for the debtor to know, understand and match the claim, sanctions are not appropriate.
Essentially, if there is "substantial" and "sufficient indicia" in the claim, it should normally be examined to be valid. To dispute the claim, a Chester County bankruptcy attorney will first make an informal request of the creditor for clarification, file an objection to the proof of claim in no clarification is provide, file a request for admissions, and file of a Certificate of No Response.