Handling Banruptcy III - Maintaning an Individual Case File-

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


             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

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Luigi M. Frascini

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Pan Am Cros Star, Loan Certification Bankport, LSD
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