Claim In Bankruptcy Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Claim In Bankruptcy, written in plain English, along with examples of how it is used.

What is Claim In Bankruptcy?

It is a document filed by the people who owe money to a person or company who has declared itself bankrupt making a claim against money or assets available.On receipt of the claim they would be send a notice whether their claim is accepted and in case of lack of funds their claim is rejected.