Mitchell, No. 10-12545 (Bankr. N.D. Calif., January 28, 2011).

When you file for bankruptcy, you must inform any potential creditors that you filed, so that they can come forward and ask for what you owe them.  If they do not do this within a certain time, they lose all rights to claim anything from you.

There are, however, six exceptions to the rule that creditors have to file within a certain time.  In this case, a credit union claimed that it was owed money, and that it should be allowed an extension in which to ask for what it was owed.  Although the credit union did not file on time, they wanted to be granted an exception.

However, the credit union did not propose any reason for the court to grant the exception.  A creditor cannot get an exception simply by asking for it – there must be some basis in law.

To read the case summary for In re: Mitchell please see here.

To ensure that your creditor claims are filed properly it is important that you file with a qualified Phoenix bankruptcy attorney. To get your questions answered and discuss your options please set up a free consultation with a Tempe bankruptcy attorney today.