If the Chapter 7 is an asset case (or a notice is later sent out in a "no asset" Chapter 7 case disclosing that assets have been discovered and that claims should be filed), a creditor must file a proof of claim in order to share in any distribution of the money generated by the liquidation of the debtor's assets. The Bankruptcy Court clerk's office will mail creditors a notice of the date by which proofs of claim must be filed shortly after the petition is filed or after assets are discovered. Creditors usually have 90 days from the date of the notice in which to file proofs of claim.

A proof of claim may be filed only for the amount owed to the creditor on the date the petition was filed. A creditor may be able to claim interest on its debt, as well as attorney fees and costs, but this depends on a number of factors, such as the date on which the fees and costs were incurred, the extent to which the creditor's contract provides for such additional costs and fees, and whether the debt is secured by collateral.

Legal advice is usually advisable in addressing these issues.