Proof of Debt
/ˈpruːf əv dɛt/
Definitions
- (n.) A formal statement submitted by a creditor outlining the amount owed by a debtor, typically in insolvency proceedings.
The creditor filed a proof of debt to claim repayment from the bankrupt estate.
Forms
- proof of debt
- proofs of debt
Related terms
See also
Commentary
The term is commonly used in bankruptcy and insolvency law to establish the validity and amount of a creditor's claim against the debtor's estate.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.