New York Verification of Creditor Matrix is a document used in bankruptcy proceedings to ascertain the validity of creditors’ claims against a debtor. It is an Excel spreadsheet with columns for the creditor’s name, address, contact information, amount claimed, type of claim, and verification status. It is used by the bankruptcy trustee in order to identify all the creditors and their claims against the debtor, and to ensure that all the claims are valid. There are three types of New York Verification of Creditor Matrix: secured, unsecured, and priority. The secured matrix includes all claims secured by collateral, such as mortgages or liens. The unsecured matrix includes all claims without collateral, such as personal loans or credit card debt. The priority matrix includes all claims that have priority over other claims, such as wage claims or tax liens.
New York Verification of Creditor Matrix
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FAQ
The Chapter 7 Discharge. A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor.
A creditor matrix contains each creditor's name and mailing address. This information is used for noticing and claims information. The debtor is required to provide a list of ALL creditors.
A creditor can be a person or financial institution?like a bank or credit card issuer?that offers credit to another party. The party that borrows the credit is called a debtor. Creditors may choose to report a debtor's account activity?like payment history, credit limits and balances?to credit reporting agencies.
What is a List of Creditors? When you file a voluntary petition under any bankruptcy chapter, you the debtor (or your attorney, if you use one) must prepare a List of Creditors and submit it to the Court. The List of Creditors is essentially a mailing list of creditors to whom you owe money.
A mailing matrix, sometimes called a "mailing list" or "matrix," is a list of the names and mailing address of creditors and parties in interest in a bankruptcy case. Each mailing matrix is processed into Case Management/Electronic Case Files (CM/ECF) by software that reads and interprets the text on each page.
A creditor matrix contains each creditor's name and mailing address. This information is used for noticing and claims information. The debtor is required to provide a list of ALL creditors.