What Is a Creditor Matrix?

 Posted on April 07, 2023 in Bankruptcy

When an individual files for bankruptcy, the court notifies their creditors of this legal action. The court takes this step partially to protect creditors’ interests and partially to ensure that the filer can benefit from the protection of the automatic stay. In order to effectively notify a filer’s creditors of their decision to pursue a bankruptcy case, the court needs accurate information to identify each creditor and to contact them. This is where a creditor matrix comes into play.

Preparing a Creditor Matrix

A creditor matrix is, essentially, a list of a bankruptcy filer’s creditors presented in a very specific fashion. Each bankruptcy district across the country requires that this information be presented in particular ways. For example, the Western District of Texas – which is where filers from San Antonio and surrounding communities file their cases – has published a full page of instructions concerning how a filer’s creditor matrix should be crafted. From the size of the margins to the capitalization of every word, this sheet of instructions is highly detailed.

Verification of Creditor Matrix Requirement

Once you and your attorney compile your list of creditors and their contact information for the court, you will be required to verify the validity of the information you have provided. This is standard practice on most bankruptcy documents, as the court needs to be able to hold filers and their attorneys accountable for submitting wrongful information intentionally. By asking a filer – and anyone who assists them in the preparation of their bankruptcy documents – to swear to their validity, the court better ensure that only accurate and complete information becomes part of the official record.

Most of the time, this process of swearing to the validity of information is completed by asking for signatures from a filer for their signature. There is no straightforward way to include a signature on the technically-prepared creditor matrix. Therefore, the court also asks filers to submit verification of creditor documents, sometimes referred to as a list of creditors verification. This document simply asks a filer to confirm that the information they have provided is accurate and complete to the best of their knowledge via a signature.

Contact a Knowledgeable San Antonio Bankruptcy Lawyer for Additional Guidance

The process of filing for bankruptcy is highly technical. Thankfully, you do not need to manage the details of the bankruptcy process alone. Our firm’s skilled San Antonio, TX bankruptcy lawyer has a great deal of experience navigating the intricacies of Chapter 7 and Chapter 13 cases alike.

To learn more about how our firm can take the legal “heavy lifting” of the bankruptcy process off of your shoulders, schedule a free case evaluation with the team at Law Offices of Chance M. McGhee by calling 210-342-3400. Due to your financial circumstances, you are dealing with quite enough right now without worrying about whether you have prepared all of your bankruptcy documents to their exact specifications. Allow us to manage that stress on your behalf. We look forward to speaking with you.

Source:

https://www.txwb.uscourts.gov/sites/txwb/files/list_creditors.pdf

https://www.txwb.uscourts.gov/list-creditors-specifications