As of December 1, 2011, important new rules have taken effect for the filing of bankruptcy court proofs of claim, particularly where the debtor is an individual, and the creditor is secured in an asset of the debtor. Extreme care must be taken to follow these rules, since sanctions can be imposed for a creditor’s failure to comply.

First of all, Official Bankruptcy Form 10 has been amended in significant part. Aside from the obvious changes in the appearance of the form, note should be taken that it is no longer sufficient simply to attach a summary of the documents supporting the claim. Rather, the form now requires “redacted” copies of documents supporting the claim. The Instructions to the proof of claim define “redacted” to mean that evidence of the social security, tax ID, and account number have been deleted. Furthermore, the signature line to the proof of claim has been substantially expanded. The signatory must now explicitly declare the basis for his or her right to sign the form. Significant identifying information must also be provided...