Bankruptcy Court Unclaimed Funds

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Bankruptcy unclaimed funds refer to the funds that are held by the court for an individual who has failed to claim ownership for it. This happens when checks sent by the trustee to the creditors for bankruptcy cases are not cashed. The Bankruptcy Code states that a trustee should stop paying on any check that remains unpaid within 90 days after the case’s final distribution. The court holds on to the funds until the creditor makes a claim for it.

Searching for Unclaimed Funds

In order to know if you have any unclaimed funds listed in your name, you can go to the United States Courts official website. Use the court locator application to find the bankruptcy court in your state. This will lead you to a list of unclaimed funds to find if your name is listed under it. Alternatively, you can get a printed copy available for viewing from the Clerk’s Office in your district. The printed copies from the Clerk’s Office is alphabetically arranged so you can look for your name. If you find unclaimed funds under your name, get all the information on the list, as you will need this when you file for a motion for payment of unclaimed funds.

Procedures for Making Claims

Fill out the application found in the court’s website. You need to put in important details such as claimant’s name, address, phone number, Social Security number, and tax identification. Aside from that, you will also need to disclose the business name from where you are claiming the funds and the total amount of claim. You also need to fill out an affidavit signed by a licensed Notary Public. Enclose photo identification cards, legal documents, and affidavit with the application. Mail it to the address of the U.S. Bankruptcy Court, as listed on the website. If there are no objected made within 21 days after you file the claim, the funds will be awarded to the claimant.

Getting Legal Assistance

Although the process sounds fairly easy, it is not. It can be taxing and complicated especially if you lack the documents required as proof for your claim. If you are having difficulty in making such claim, you can approach a bankruptcy lawyer for help. Your attorney will guide through the process to ensure that you get the unclaimed funds you were not able to claim in the past.