Timely Filing in Chapter 13 Bankruptcy Cases: Does Rule 3002(C)\u27s Deadline Apply to Secured Creditors?

Federal Rule of Bankruptcy Procedure 3002 provides the guidelines that creditors must follow to file a proof of claim and participate in the debtors repayment plan Subsection c of the rule establishes a timeliness requirement which states ÔÇ£a proof of claim is timely filed if it is filed not later than 90 days after the first date set for the meeting of creditors called under ┬º 341a of the CodeÔÇØWhile courts universally agree that Rule 3002c\u27s deadline applies to unsecured creditors much uncertainty has arisen as to whether the rule applies to secured creditors Some courts interpret the rule as applying to all creditors and therefore hold secured creditors and unsecured creditors to the same deadline Other courts however interpret the rule as applying only to secured creditors and allow secured creditors to file proofs of claim after the rules deadline This article evaluates the arguments supporting each side of the discussion and ultimately concludes that the correct interpretation of the rule is that the deadline applies to both secured and unsecured creditor