Handling Banruptcy III - Maintaning an Individual Case File-

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Education & Training with Pan-Am Cros-star Loan Cert'n Bankport

   FILING:

             In order to manage bankruptcy cases effectively, you would have to set up and maintain an individual file for each case. A comprehensive file should contain copies of ALL DOCUMENTS related to the bankruptcy proceedings, including the following: 

  • the borrower's petition for bankruptcy proceedings;
  • the notice of filing;
  • the notice of the first meeting of creditors;
  • the proof of claim you filed(if applicable);
  • the borrower's repayment plan, if any;
  • any pleadings and notices;
  • any appraisal obtained by the Bankruptcy Court; and
  • any forms and notices you may have filed with the Main National Depository of the mortgage, and the mortgage insurer.

   Be sure to note in the file the following pertinent information:

  • name, addresses and phone numbersof all and every borrower, guarantor AND their spouses;
  • bankruptcy case number;
  • chapter of the Bankruptcy Code under which the bankruptcy was filed;
  • bankruptcy Court handling the case;
  • date of bankruptcy filing;
  • name, address, and phone number of the borrower's attorney; and
  • name of the mortgage insurer, if applicable.

You may find it helpful to record this information on a Bankruptcy Summary Sheet and keep it in the case file.

  

Luigi Mario FRASCINI

WARNING:This message contains information which may be confidential and privileged. Unless you are the addressee (or authorized to receive for the addressee),you may not use, copy or disclose to anyone the message or any information contained in the message.  If you have received the message in error,  please advise the sender by reply e-mail at homesbyluigi@hotmail.com, and delete the message. IRS Circular 230 Disclosure: To ensure compliance with Treasury Department Regulations, we advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions or (ii) promoting, marketing or recommending to another party any tax-related matter addressed herein. This information has been provided with the understanding that ANY and ALL questions regarding legal advise and ANY other professional services SHOULD BE DIRECTED to a qualified professional  who specializes in such services.

Luigi M. Frascini

Thank you, LM F      α<> Ω               (714) 296-3364                     homesbyluigi@hotmail.com

  

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